Investor Mortgage Report – Week of July 15th, 2024

Categories:

Traditional/Conventional
DSCR

 

Fix and flip loans
Rates moved lower!
Mortgage rates improved as inflation data last week came in even better than expected, showing dropping inflation and supporting the belief that the Fed will cut policy rates up to three times this year starting at September’s Fed meeting.
Rates are now at some of the lowest levels of the year, but aren’t likely to move much lower this week. Mortgage rates are heavily influenced by inflation, the labor market, and forecasts of when and how much the Fed will cut policy rates. With this month’s big labor and inflation reports behind us, we won’t likely see mortgage rates make any big moves this week.

 

What’s affecting rates this week:

  • Inflation data: Not a lot of data this week that will affect rates..
  • The Fed: Fed officials are out in force this week speaking, the last week they can do so before the blackout period enforced ahead of every Fed meeting. Despite this month’s data, Fed officials are likely to signal support for keeping policy rates unchanged further into the year. Because markets don’t expect the Fed will be able to avoid cutting rates as soon as September, the Fed speeches are unlikely to hurt or help 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: 6.25% to 6.5%

Non-Owner Occupied:  Low 7.25 to 7.375%

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

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 July 15th, 2024

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