Contacted local DSCR loan officer and was told the best rates would be 7.325% with 30% down and that’s with two points.

If you refi to a renovation loan by including the ADU costs + paying off the existing mortgage, would your total monthly payment be financially comfortable and agreeable to you? 

I was 4 months into my career post college so I emptied my savings account and loaned money from my parents for the down payment.

The bank gave him a 10 year loan at 4.25%His P+I was around $88,000 a year. 

I have been reinvesting my capital back into my business and acquiring more land.My next goal is to expand into multifamily development and secure additional land.

The loan is issued to an individual or a disregarded single-member LLC, as opposed to loans issued to partnerships or corporations. 3.

Explore financing options like­ FHA loans, VA loans, or conventional loans with low down payment require­ments.

It's crucial to note that this does not mean the buyer assumes the loan; the original loan terms and obligations remain with the seller, which includes the debt remaining in their name.The bank's involvement is minimal in the sense that the loan is not officially transferred.

I currently own a retail building I purchased years ago. 3 years left on the loan with a sub 4% interest rate.

Turns out nobody else in the industry, including lenders, really understood the negative impact these loans would have on millions of people.