You would probably have to bring money to the table to get the balance down.If your going to do that you should consider paying the loan down now and asking your lender to recast or reamortize your loan Don’t forget about the tax benefits.

Hi BP Fam ,I'm looking at a rental property I want to buy but don't want to put down the 20% on a DSCR Loan.

Thank you for your response, My current income is about 75,000 a year, My credit card debt total is approx 40,000.00 which consists of 2 car payments and medical expenses. about 6000.00 of it is money I loaned or I guess gave to family and friends, Not to mention the cash I have loaned or given away, I am going to stop being a leech and start to put my needs first, I will get there eventuality!!!

My other option I assume is just to get a construction loan & either purchase the land cash, or lump it into the loan.

For office buildings, Dallas has a significant amount of distressed office space with ARM loans coming due.

@Ed Ma what is the remaining term of the loan?

At least it sits on their credit report and prevents them from scamming another landlord or qualifying for a loan.

Then I would get the bank to loan you the down (800k) on a first lien plus another 100k. all in you would owe 1.7 and walk away with 100k cash to get right into it and fix it up.

If the loan amount is less than 500k, there is a lot less lenders that can do these types of loans compared to 1-4 or 10+ units and rates tends to be higher.

It’s a big decision and shouldn’t be taken lightly…because you are right- it’s going to take time, effort and money (by way of loans/debt) to get that MD/DO.