All Forum Posts by: George Despotopoulos

You should be able to get a 30 yr fixed against the portfolio at up to 75% LTV for cash-outs & 80% LTV for rate/term. Rates likely to be 4.25% - 4.875% w/ a 3-5 year prepayment penalty.

It depends what sort of terms you're on now w/ your current loans. A 'commercial lender' would likely be offer 75% LTV cash-outs at 4.25% - 4.75%.

@James Krell you may be able to get a 30 yr fixed DSCR/property cash-flow loan at 80% LTV for a 4.75% - 4.875% rate and even lower for a 75 LTV on 30 yr fixed. Both are without buying down.

@Thomas Terry tackett you'll be able to get a 30 year fixed rate based on your credit score & the property's characteristics. You having over 10 rentals will not be a hindrance. If you're looking to do a portfolio refinance you'll likely be seeing a 3.875% - 4.875% for 30 yr fixed, with a 5 yr prepayment penalty if your FICO > 700 (even more so if it's 720+). 

@Jim Kalish unfortunately HELOCs on investment properties are a bit harder to come by. I understand your hesitation on a cash-out. If it's any consolation, rates on an investment property are at a rather low point, depending on the properties' characteristics and your credit score you may be looking at something in the 3.875% - 4.875% range. You also don't have to max out on LTV, you can borrower as much or little as you'd like.

@Pradip Thachile -- what's the purchase price? You should be able to get a 30 year fixed at 80% of purchase price. Rate sill be around 4.75% - 5.125% depending on loan amount, FICO, and the DSCR/cash-flow.

@Amy Davidson -- yes, those appraisals can used. Would need to quickly review the reports to make sure it's satisfactory. You don't always need a transfer letter from the current appraisal, especially if you paid for the reports already. You can send the appraisal and with a secondary appraisal review, it may be used. Happy to answer any questions. 

If you're looking for an unsecured home improvement loan, check out GetHearth.com. Otherwise, a bridge loan would be an option but at this point you may not have enough equity. @Kyler J Sloan

@Henry Centola why are you looking for a 12-month io -- is this a value add deal or does it need reno to bring it up to market rent? 

If you're not contemplating rehab or are already in leasable condition, you'll be able to get a 30 yr fixed against the property on a DSCR loan (w/o proof of income, property DTI, etc). Rates are in the 4.875% - 6.125% range (for 30 yr fixed rate/term).

I think smaller, local private lenders would be open to this. Nation-wide, or even regional lenders, would have their capital source (whether it their own or a warehouse line) set up and it wouldn't interest them to reach out to individuals for money to fund their loans.