DSCR Loan Costs | The Key to Buying Residential Investment Property
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- čas přidán 10. 09. 2024
- Want to buy a residential property but don't know how to invest? Today we take you through the best option for financing your residential investment. Let's discuss DSCR (Debt Service Coverage Ratio) loans and how they help you to fund a real estate investment.🏠
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Are you thinking about financing a real estate investment? We understand that figuring out the right funding option can be difficult. This video will cover DSCR loans, the best financing option for experts and new investors.💰
We will explore, what is DSCR (Debt Service Coverage Ratio) loan and how it can assist you in buying your dream real estate. We will also cover the important fees and costs associated with DSCR loans. Additionally, we will go through the pros and cons of DSCR and how you can maximize the return on your real estate investment.🏠💼
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🎥Check out my other videos:
VA Loan Cash Out Refi | Take Advantage of Equity Today!: • VA Loan Cash Out Refi ...
VA IRRRL 2024 | Rate/Term Refinance Loan for Veterans: • Video
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Let's chat about DSCR Loans: calendly.com/jeff-trevarthen/15-min-call
Best Mortgage officer I have ever worked with. Thank you for everything man. Very helpful
Thanks Judd!
Hello there, great video. I have a quick question. What is a usual broker fee to be paid with this type of loans??
I think it varies depending on loan size and complexity.
I always appreciate the wisdom you share with us investors
Thank you for the kind words!
Quick question for you, I have a seasoned LLC that is not real estate related. 1 do I need an LLC for these loans and 2 would my unrelated LLC qualify?
Great question. I believe you'd be fine with your existing LLC.
Can you use a lender in on state but get the property in another?
Yes for sure. I'm licensed in 15 states, but I can do loans nationwide (except New York).
Thank you for the info. It helped
You're welcome!
As a realtor If I wanted to purchase an investment property that already has tenants, would you consider using my commission I would get as the reserves or for the closing cost?
Great question. Unfortunately, reserves have to be "seasoned" for at least two months. :(
Great video so well explained.
Thank you! 🙏
What is the seasoning time for a DSCR Loan after a CH.13?
You can get a loan right away if the Ch. 13 was discharged. Credit score will still matter though. The terms are not as favorable and you'll need 25% down minimum, but you can get a loan. :)
Great video…. Quick question Jeff - If I have a 4 unit property. I recently finished the rehab. I’m placing tenants in units now (1st tenant was placed in Jan, 2nd will be placed with a 12month signed lease by next week) Should I wait until all 4 units have signed 12 month lease in place to get financing with DSCR loan (will appraisal be cheaper if 4 signed leases in place) or will the appraisal cost me the same to start the refi process now with just 2 of the units with signed leases in place (all 4 units rehab is complete). Typical BRRRR deal with Private Money Lenders. Thanks Jeff
Great question. Get the tenants first. It's always easier that way. Happy to help with the refi when you're ready.
Appraisal will be the same price regardless.
@@JefftheMortgagePro huge thanks Jeff. I absolutely will give you a shout when I go to complete the Refi process. Hoping within a week or 2.
Not everyone can afford a down payment like the ones they have it's way to high what kind of help can a person get to help with the down-payment
For investment property? Not much help. But a lot less down required for primary residences. 👍
Bro, you could have added a chart while you were talking. And what are points? Is there a book I can read, that you can suggest?
Lol! I'm not that skilled in editing. I'm not sure what books there are regarding dscr loans.
It's not enough that he made free content for your ignorant ass... 😂
always need at least 20 % down/?
For the most part, yes. 25% down is better.
@@JefftheMortgagePro why?
Better rates and pricing.
Are DSCR loans maximum 7yrs or what is the maximum before being subjected to refinancing or paying off the loan in full?
They're actually 30 year fixed loans. 😊