The next 2 months should tell us a lot about 2024.Mortgage Market Status UpdateAverage monthly mortgage payments (existing homes) are still elevated, a record high $2,326, a substantial increase from $977 in March 2020.

Found a way to finance construction costs into monthly payment because Unit 1 turned out to be a heavy cosmetic rehab.

You can use a down payment as little as 3.50% of the total of the purchase price + rehab dollars, all in the same 30 year term loan.

Hey Dan, we do 15% down payment DSCR loans all over USA including Florida.

What I mean by this is considering how much your down payment returns to your net worth (appreciation, loan paydown, tax benefits, AND rent avoidance).

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

My DTI is pretty high but I was going to try a DSCR loan w creative financing, To delay bigger payments until I get the tennants out.

Since you've likely built a lot of equity, cash out refinance would allow you to put a down payment on a new property while keeping the cash flow from this one.

Things do happen and plans change so typically the bank will not care if payments are made.

For a loan example that we would not qualify for a loan (unless you want to make a down payment):-purchase is 150K-renovation is 100K-ARV is 300K -Loan to value is 83 percent, so this is not a loan we can qualify you for unless you want to bring a down payment to closing.Here in Atlanta, it is getting harder and harder to find deals under 70 percent because of all the competition.