All Forum Posts by: Yaakov Gordon

@Yaakov Gordon while it is certainly legally possible it is highly only unlikley and DSCR lender woudl do this. BUT even if they would do it in theory, it is unlikely that the numbers would work.

Typically a DSCR loan would be at 80% LTV. They are also typicaly $100k minimum. So your current loan plus $100k is going to be 80% of a very big numnber, You are likely to be in a price range that won't cash flow well enough to get the DSCR loan.

That's a very good point. I hope it will work, I'm looking to get under 60%.

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Los Angeles County, California

Looking to take out a DSCR loan as a secondary loan. I can't refinance the primary loan, because I don't want to lose that 3.5% rate.

I called a bunch of lenders and they all said they have to be the primary lien. Anyone know a lender that would do it as a secondary?

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Los Angeles County, California

Of course, he gets to live in the house and is responsible for maintenance. Future sale price is set, regardless of market.

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If I want to sell my house for 800,000 in California with the existing loan which is at 470,000, but there is a due on sale clause. Is this strategy possible?

Buyer gives 330,000 cash, and takes a 330,000 lein on the property. He gets an option to buy it for the remaining balance on the mortgage, and pays my mortgage down.

Call it rent to own, or call it a loan with free rent as interest plus option to buy.

Will it trigger due on sale? Will insurance work? Any other reasons why this is impossible?

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No wonder why he's disgraced.

1 Vote

All Forum Posts by: Yaakov Gordon

Yaakov Gordon has started 2 posts and replied 5 times.

Post: DSCR loan as second lien

Post: DSCR loan as second lien

Post: Keep existing loan

Post: Keep existing loan

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