(By the way, I never pay points for any loans.

Hi Amanda, I think this is where most borrowers get confused on a DSCR loan.

Get a 50% LTV loan and buy another property just like the one you own. 

Instead, consider a HELOC or home equity loan to fund repairs, as the interest may be deductible if used for home improvements.This post does not create a CPA-Client relationship.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Hi Dean - we had access to a DSCR product until a couple weeks ago - it's currently paused, per my conversation with one of the loan brokers I work with. 

Most DSCR loans allow LLCs to hold title and sign the note.

The problem was, they only had enough money for a 3.5% down payment and an FHA loan.

That doesn't seem right about having to chase your money - but would need a lot more info to provide a better opinion. also are you investing in one property and is your name secured or you giving an unsecured loan? 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.