How long do you plan to be in that loan before either refinancing or selling.

FHA loans are required for each property, and refinancing is essential for future purchases.

In DSCR loans, a 5-year prepayment penalty (PPP) is common but not universal.You can typically negotiate this with lenders, especially if you're concerned about refinancing within three years.

Is there a DSCR loan available for refinancing self-storage properties in the $700,000 to $1 million range with a reasonable interest rate of 6.5% to 8%, or are DSCR loans only for residential investments?

What makes Baselane stand out is its ability to help you qualify for refinancing or new loans.

That means when we sold or refinanced the property, the investor would get their principal back plus interest.One important thing to note: I only paid interest for the time that I had the loan.

They handle:Monthly Payment ProcessingEscrow for Taxes and Insurance: They ensure property taxes and insurance are paid, which is essential to protect your interest in the property.Record Keeping: They also maintain records, which can be invaluable if any issues arise during the term of the loan.ConclusionGiven the details of your property and the $200,000 sales price, a possible scenario could look like this:Down Payment: 10% ($20,000)Loan Amount: $180,000Interest Rate: 8%Amortization: 30 yearsMonthly Payment: Approximately $1,320 (principal and interest)Balloon Payment: Due in 5 or 7 years (this allows for refinancing or payoff while giving you some flexibility).These terms are flexible and can be adjusted based on the buyer’s credit, down payment size, and negotiation.

Refinance and Rent:Given the numbers you’ve shared, refinancing and renting could be a solid move.

Also, to make your money go farther, cutting down closing costs is a great way to do that, We can help with that, which is why we offer 1 point Origination Fix and Flip loans.Is sounds like you already have a portfolio, you may want to look at refinancing your existing portfolio to free up cash for future purchases, the buyer's market is only going to last so long as these interest rates are being cut.

Refinancing a VA 30 year home loan from a 6.045% to a 5.125%.