September 2020 update
Thanks for contacting me regarding your rental property financing.
You are looking at several options pending:
1. the cash flow of your property (DSCR ) Some properties cash flow in a negative and some (the best options) are 1.20+ (meaning you have 20% profit after expenses and your mortgage payment.
2. Your credit 680+ is best, there are options available with little to no credit
3. loan amount
4. condition of property (15- 30 year loans require subject property be in good condition) , if not we need to “bridge loan” the property first. 5. Your overall “story” (about property, your credit, income -if we are not pursuing a “stated income” loan are all in important.
Bottom line, with our team having almost 20 years experience as Lenders, brokers, underwriters, and property investors we can offer a solution on almost every scenario.
Monty
214 213 8967
**the link below is our longterm lending site and will explain more and give you a choice to complete our “quick scenario” or full application.Link: https://www.texasinvestorloan.com/ in house bridge (Private Bridge)5 year bridge (Institutional bridge) “soft bridge”long termfull docalt doc , sometimes called “light doc” , could be be bank statements with tax returnsstated income with verified assets (liquidity check for reserves or down payment if purchase )DSCR (programs based on cash flow of property ) borrower would still need verified reservesNo DSCR program – like private /hard money but longer term , close the soft/5 year bridgerates from 5- 10 % pending credit , ltv, loan amount , etc..Its important to know the “story” and details. Most borrowers call and ask “What are your terms” , the answer is we dont know, we have no idea withouth details.Our approach is to be consultative and SAVE precious time. Our business is offering solutions for you funding needs.