This means sizeable monthly payments, but if utilizing with Value Add you can pay off the loan without a pre payment penalty at any time.Hope this helps!

Do 80/90% of land 100% of construction loans exist?

More on DSCR loans: DSCR loans won't use your income to underwrite the loan. 

The lots are owned free and clear so the loan would only be for the construction.

If you want less leverage simply put down the funds you would use to pay down the 6.4% rate on the new property so you are at say 60% loan to value on the new house.

Hey everyone, a new development in the area where I invest, is offering a 5.99% interest rate (conventional loan) and 2% of purchase price in closing costs.

Here in Chicago, you should expect a range from $200-$275/SF, depending on the location, experience, labor, and material finish level.Are you in a position where you already own some land, or what is your current situation?

Would this situation qualify?

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.

Loan Amount: We specify this as a percent of the purchase price.