Traditional/Conventional

DSCR

Fix and flip loans

Rates are on the move…UP.

Rates are more likely to creep higher this week, especially if the inflation data is disappointing, as markets adjust to the idea that the Fed may hold off on any rate cuts until much later in the year.

What’s affecting rates this week:

Economic data: This week brings important inflation data, which is not likely to be too helpful to mortgage rates. Although economists are projecting a small improvement in inflation, it would take a surprisingly low reading to help rates to rally, and that is unlikely to happen.

The Fed: Markets are starting to bet on only two Fed rate cuts this year as Fed officials continue to say that the strong economy and labor market along with stubborn inflation make it too early to even consider cutting rates. The Fed will only need to consider cutting rates if we see signs of a weakening economy and a softening labor market that needs stimulus.

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: $75,000

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: 6.625% to 6.75%

Non-Owner Occupied: Low 7.5%

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 8, 2024