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19 April 2024 | 11 replies
If not, I would still recommend going ahead with a professional cleaning company that has experience with mold remediation (make sure they send before and after pictures as well), if you really wanted you could give a small credit to the tenant to make them happy as well but 100% not required.
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19 April 2024 | 20 replies
DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.
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18 April 2024 | 10 replies
Our minimum credit score is 600, and 75-80% don't pass that standard.
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17 April 2024 | 6 replies
We would just need to verify you have a decent credit score and the rents can cover the total mortgage payment at that loan amount.
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18 April 2024 | 16 replies
Factor in things like credit health, debt load, and financing options.
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17 April 2024 | 0 replies
Finding financing for multifamily properties in the 5-10 unit range typically means local banks and credit unions, or small balance commercial lenders.
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18 April 2024 | 1 reply
I love doing reno work with the contractors I bring in as I can learn and know the ins and outs of the property but I also want to start getting into larger multifamilies or even just duplexes or low income.
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16 April 2024 | 9 replies
. - 650+ Credit Score - Clear background check, eviction history check and sex offender registry check.
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19 April 2024 | 13 replies
The only possible workaround is likely super low LTV (like sub 50) or if its a purchase and basically zero things that would be required to not do SRO if they chose to do a vanilla LTR
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18 April 2024 | 8 replies
If an investment property, there non-warrantable DSCR loan options.Some details:Loans available for purchase, rate and term refinance (no cash out) and cash-out refinanceCredits score down to 620LTV are up to 75% for purchase and 70% for cash out.Rate buydown feature available.DSCR (lower of gross rent lease or Form 1007/216 rent divided by PITIA) as low as 1.0x.For experienced investors (one year of investor experience and own home), short term rentals can be structured off of 12 month short term rental history with 20% expense factor.