Rates likely to move higher!

This week rates are likely to move higher as markets give up on a March Fed rate cut and start to question if we will even see one at the next meeting in May.

DSCR Loans

Best Rate at 60% LTV: 6.75% to 7.00%

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: 6.25% to 6.3375%

Non-Owner Occupied: Low 7%’s

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): 9.75% – 12%

Large Lenders (15% down + 1 point + closing costs): 9.50 – 13%

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%

What’s moving the conventional rates?

This week rates are likely to move higher as markets give up on a March Fed rate cut and start to question if we will even see one at the next meeting in May. Mortgage rates will creep higher if markets believe that the Fed will not cut until later in the year, and the strong economic data and labor market data we’ve seen the last few weeks makes it unlikely the Fed will need to cut rates to stimulate the economy anytime soon.

What’s affecting rates this week:

Economic data: · There is no economic data this week that is likely to either push mortgage rates higher or lower.

Fed speakers: There will be members of the Fed speaking every day this week, sharing their opinion on when the Fed should start cutting rates. Mortgage rates will creep higher if markets believe the Fed will not cut until later in the year.

Coming Soon…

Bank Loans

Construction Loans

Please note all loans except Conventional Loans are Non-Trid loans (business purposes only) and require properties to be closed in a business entity like an LLC.

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 February 5 2024