Traditional/Conventional

DSCR

Fix and flip loans

Rates could be volatile!

This week brings major labor market data and the Fed meeting and press conference. Although we try to forecast what this will mean for mortgage rates, depending on what is said and how the data comes out this week we could see mortgage rates move significantly up or down. A good week to stay in touch with your mortgage professional.

What’s affecting rates this week:

Economic data: Wednesday brings the first of many jobs reports for the week, and Friday brings the BLS jobs data which will have the greatest effect on mortgage rates. Continued signs of a strong labor market will pressure mortgage rates to move higher, while any surprise weakness could help rates improve, although not likely by much.

The Fed: Wednesday brings the Fed policy statement, where the Fed is expected to keep rates unchanged but to signal that cuts are not likely until much later in the year. Powell’s press conference after usually causes a strong reaction in mortgage rates.

DSCR Loans

Best Rate at 60% LTV: 6.25% to 6.99%

Best Rate at 70% LTV: 6.875% to 7.25%

Best Rate at 80% LTV: 7% to 7.375%

Highest LTV: 85% (purchase + rate and term)

Lowest FICO score: 620

Smallest Loan: $65,000

Largest Loan: $20mm (large portfolios)

Vacant Properties: 75%

Short-Term Rentals: 80% (purchase + rate and term)

Best rates are based on 780+ credit score, DSCR above 1.15, loans over $300k and in major cities. We have 20+ of the best DSCR loan buyers at our fingertips and can help with most clients’ needs.

No Ratio Loans

Highest LTV: 75% (Purchase + rate and term)

No ratio loans are loans that do not require a rental agreement or have negative cash flow.

Conventional Loans

Owner Occupied: 7% to 7.25%

Non-Owner Occupied: Low 7.875%

Conventional loan rates powered by TNS Loans NMLS #1719349 on properties in Colorado. If you want specific rates, reach out to TNS Loans via email at MB@TNSLoans.com.

Private Loans

Small Loans and Lenders (.5 – 3 Points): 9.5% – 12%

Large Lenders (15% down + 1 point + closing costs): 9.25 – 11%

Highest LTV 100% of full project up to 72.5% ARV

Lowest FICO score: Mid 500’s with good credit last 12 months

Smallest loan: $10k

Business Credit Cards

0% for up to 18 months

Options for business 3 months plus in business

Credit usage loans available to increase score to qualify for business credit cards

HELOCS

NOO HELOCS to 80%

Don’t forget to grab a copy of your personal Investor Mortgage Report here!

What are the best loan products for where you are at now and where you are going.

Keep up as rates get better and requirements become easier.

Investor Mortgage Report – Week of April 29, 2024