DSCR Loan Costs | The Key to Buying Residential Investment Property

[@JefftheMortgagePro]

Let's chat about DSCR Loans: calendly.com/jeff-trevarthen/15-min-call

[@brebre09shana]

Would u do a video on a white board or paper to see the formula. It help seeing the number to understand

[@juddb9896]

Best Mortgage officer I have ever worked with. Thank you for everything man. Very helpful

[@JefftheMortgagePro]

Thanks Judd!

[@Phillystandup86]

I always appreciate the wisdom you share with us investors

[@JefftheMortgagePro]

Thank you for the kind words!

[@marciafoster4134]

Great video so well explained.

[@JefftheMortgagePro]

Thank you! 🙏

[@davidacosta8060]

Thank you for the info. It helped

[@JefftheMortgagePro]

You're welcome!

[@patricioalarcon4318]

Hello there, great video. I have a quick question. What is a usual broker fee to be paid with this type of loans??

[@JefftheMortgagePro]

I think it varies depending on loan size and complexity.

[@IrisSanchez-b7v]

Can you use a lender in on state but get the property in another?

[@JefftheMortgagePro]

Yes for sure. I'm licensed in 15 states, but I can do loans nationwide (except New York).

[@marcburden9832]

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?

[@JefftheMortgagePro]

Great question. I believe you'd be fine with your existing LLC.

[@colefranklin6779]

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?

[@JefftheMortgagePro]

Great question. Unfortunately, reserves have to be "seasoned" for at least two months. :(

[@kevinmartin2458]

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?

[@JefftheMortgagePro]

Lol! I'm not that skilled in editing. I'm not sure what books there are regarding dscr loans.

[@gageschultz6019]

It's not enough that he made free content for your ignorant ass... 😂

[@nickfazzio5277]

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

[@JefftheMortgagePro]

Great question. Get the tenants first. It's always easier that way. Happy to help with the refi when you're ready.

[@JefftheMortgagePro]

Appraisal will be the same price regardless.

[@nickfazzio5277]

@@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.

[@danielleworth2158]

What is the seasoning time for a DSCR Loan after a CH.13?

[@JefftheMortgagePro]

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. :)

[@TomGilboy-x9y]

I'm doing a DSCR loan for a SW Florida property. I'd like a quote if you're still in the business.

[@JefftheMortgagePro]

For sure. Give me a call tomorrow.

[@sydneyparsley408]

Can you help me with a property in AK

[@JefftheMortgagePro]

Yes absolutely!

[@Veronica-tk9rl]

canadians looking to buy a rental in florida. Please reply if you can help :)

[@JefftheMortgagePro]

I can help.

[@Lance_A]

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

[@JefftheMortgagePro]

For investment property? Not much help. But a lot less down required for primary residences. 👍

[@jair7327]

Get a line of credit to cover the rest or maybe a personal loan

[@rknow78229]

Are DSCR loans maximum 7yrs or what is the maximum before being subjected to refinancing or paying off the loan in full?

[@JefftheMortgagePro]

They're actually 30 year fixed loans. 😊

[@BossChronicles]

always need at least 20 % down/?

[@JefftheMortgagePro]

For the most part, yes. 25% down is better.

[@michaelpaul5801]

@@JefftheMortgagePro why?

[@JefftheMortgagePro]

Better rates and pricing.