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All Forum Posts by: Phil Shelton

Phil Shelton has started 12 posts and replied 22 times.

Private Lending & Conventional Mortgage Advice

Post: (refinance) hard money lender vs conviental for investment 30 year fixed

Phil SheltonPosted
  • Posts 22
  • Votes 7

do you guys think that the rates that hard money lenders that provide rental loans are so close to what conviental banks offer that HML are easier to refinance with?

0 Votes
Private Lending & Conventional Mortgage Advice

Post: DSCR LOANS. Where to get approved?

Phil SheltonPosted
  • Posts 22
  • Votes 7

for DSCR = Annual Net Operating Income / Annual Debt-Service in a refinance deal 

(1) is the Annual Net Operating Income just gross rents? so if its a 2 unit property and rents are 2500/2500 it is = 5,000 

(2) is Annual Debt-Service the new loan amount? so Ie 750k? 

0 Votes
Upstate New York, New York