All Forum Posts by: Michael Higgins

Any update on this @James Celidonio

Hello Natasha. 

If you require financing, you will have to apply for a DSCR loan. DSCR stands for Debt Service Coverage Ratio, which is a calculation that determines if a loan's income covers its annual debt service.

As of today, the current average interest rate for a 30-year fixed mortgage in the US is 6.91%.

DSCR mortgage rates are typically anywhere between 1% and 2% higher than conventional loans.

Please feel free to reach out directly with any questions or concerns. 

Since the buyer agreed to make you the assignee, the assignee is responsible for providing the EMD to the seller.

Are you an experienced investor? I may have options for you. Just sent you a request.

Seems like you're dealing with someone who is inexperienced. 

I can help with the financing, just sent you a request!