All Forum Posts by: Shak F.

Yes, that is pretty a pretty average rate for investment properties right now, and lower than rates have been in recent months. For a DSCR loan you won't need to provide a W-2 or any paystubs as underwriting is based off of the cashflow of the property itself.

 @Shak F.  Consider putting 25% down as that will lower the rate or costs and maybe both. 20% is the number most assume will get you the "best rate" as it is usually the target for owner occupied properties. But, for non-owner occupied is the target is 25% down. 

This is because of what are called loan level pricing adjustments. The chart below shows the additional cost for a base rate for situations including investment property. You will see the adjustment for 80% loan to value is 3.375% where with 25% down it is 2.125%. 

https://singlefamily.fanniemae.com/media/9391/display

Thats probably about right for an investment property, the interest rates that are advertised are typically based off of the best credit and you will also have a higher interest rate with it being an investment property. I'd speak to a few more lenders though just in case. 

I recently bought a condo seller financed and used buyers protection home inspection and was happy with them. Competitive and competent. Congrats on your deal

I recently bought a condo seller financed and used buyers protection home inspection and was happy with them. Competitive and competent. Congrats on your deal