Traditional/Conventional

DSCR

Fix and flip loans

Still inching forward!

Mortgage rates moved slightly lower for the week, although most media sources are still behind the curve and some of the headlines about how low rates are at have been overblown. Rates got a boost on Friday from Fed Chair Powell’s comments that “the time has come for policy to adjust”.

Rates are not likely to make any big moves this week, but could continue to creep lower.

What’s affecting rates this week:

Economic data: Thursday brings the final 2nd quarter GDP data, and Friday brings the PCE inflation data, which is the Fed’s favorite gauge of inflation. Markets didn’t react much to the CPI inflation data earlier in the month, which could signal we won’t see a big reaction to Friday’s data.

Holiday: Markets are closed Monday September 2nd, so we could see some conservative rates on Friday this week ahead of the holiday weekend.
Fed rate cuts: Mortgage rates could react favorably if markets speculate larger Fed rate cuts coming at the September meeting.

DSCR Loans

40 year options now available!

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

Best Rate at 70% LTV: 6.5% to 6.75%

Best Rate at 80% LTV: 6.75% to 6.9%

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: 5.625% to 5.9%

Non-Owner Occupied: Low 6.25 to 6.5%

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): 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 26th, 2024