Hi Deborah, I'd be happy to answer some of your questions on DSCR loans as I've been originating them for a while.1.

Originally they said they wanted to move by October 1st.

Heres the numbers:  Borrower(s)Subject PropertyRate Not Locked 9/30/2024 Sales PriceDown PaymentLoan Amount30 Year FixedContract DepositSeller ConcessionNMLS#  $670,000.00$167,500.00$502,500.007.000% $0.00$0.00  Bank Origination Charges Estimated Title / County / State ChargesOrigination Points % $ - Owner's Title Insurance $ 4,415.00Discount Points % 1.500% $ 7,537.50 Lender's Title Insurance $ - Underwriting Fee Title Search $ - Appraisal Fee $ 650.00 Title Services $ - Credit Report Services (1) $ 299.00 Alta 8.1 $ - MERS Fee $ 25.00 Recording & Transfer $ - Flood Certification $ 8.00 Notary $ - Tax Service $ 85.00 Settement Fee $ - VOE Fee $ 150.00 Total $ 4,415.00 Total $ 8,254.50 Prepaid Interest / Items Potential Additional CostsPer Diem Interest 15 Days $ 1,465.63 Rental 1007 $ 250.00Home Insurance $ 1,800.00 New Survey (if applicable) $ -Flood Insurance $ - 2nd Appraisal / Reinspection $ - Total $ 3,265.63 Total $ 250.00 Escrow and/or Property Taxes Due Total Estimated Monthly PaymentsTotal Insurance(s) 3 Months $ 450.00 Principle and Interest $ 3,343.15Property Taxes 4 Months $ 2,868.64 Total Property Taxes $ 717.16Total $ 3,318.64 Total Insurance(s) $ 150.00 HOA / Maintenance $ - Monthly PMI $ - Total $ 4,210.31Total Estimated CostsEstimated Closing Costs $ 12,919.50 Estimated Escrow Prepaids $ 6,584.27 Estimated Funds To Closing $ 187,003.77

I've gone through the process of shopping out a loan for the property and it was decided that I'd go with a loan originator who initially told me the interest rate would be anywhere from 5.5-6%.

Originally posted by @Joshua Hollandsworth:Is the Clark-Fulton neighborhood a bad area to invest in?

I’m originally from Huntsville, so it’s great to see you’re investing in that area – solid market with lots of growth.

Interior - Recently redone black granite countertops in kitchen, but original cabinetry was simply painted white by previous owner with black accented handles.

The primary reason for this, is because Freddie Mac & Fannie loans are "securitized loans" (IE - they are turned into mortgage bonds / mortgage backed securities / MBS after they are originated).

Originally posted by @Will Clark:@Tracy Levy The skip tracer I use may be able to help.

All, at most, have had minimal fees - $500 for origination, etc.