Investor Mortgage Report – Week of April 29, 2024
Categories: Uncategorized
What’s affecting rates this week:
- 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