Traditional/Conventional

DSCR

Fix and flip loans

Rates getting better!

Last week saw rates improve marginally, but not by much despite data showing the lowest inflation since spring 2021.

Rates are not likely to move much this week, but any moves are more likely to happen near the end of the week. Markets have shifted to expectations of only a quarter point rate cut at the Fed’s September meeting, after speculating that the weak labor market data earlier this month would spur a half point cut or more. Mortgage rates move ahead of actual Fed cuts, and improved earlier this month on the speculation of coming cuts.

What’s affecting rates this week:

Economic data: There is very little data this week that will affect mortgage rates, basically only an early report on Thursday.
Fed minutes: The minutes from the Fed’s last meeting come out on Wednesday, although we shouldn’t see rates react much to the news.
Powell speech: Fed Chair Jerome Powell will be speaking from the Jackson Hole Symposium on Friday morning, and markets will be listening for signals of future Fed rate cuts. It is unlikely that Powell tips his hand much, and will likely signal Fed rate cuts are coming but will be data dependent.

DSCR Loans

Best Rate at 60% LTV: 6.25% to 6.5%

Best Rate at 70% LTV: 6.5% to 6.875%

Best Rate at 80% LTV: 6.75% to 7.125%

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: 5.75% to 6%

Non-Owner Occupied: Low 6.5 to 7%

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): 8.25 – 10%

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

RENTAL HELOCS to 80%. Fixed and adjustable.

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 August 19th, 2024