Traditional/Conventional

DSCR

Fix and flip loans

Rates show a little improvement!

Rates were basically unchanged last week, not only for the week but with very little movement day-to-day. Overall it was a very quiet week for rates.

Mortgage rates shouldn’t move much this week, but could improve a little bit if this week’s inflation data comes in as expected. Keep in mind though that we could see a lot more volatility next week with labor data and the Independence Day holiday.

What’s affecting rates this week:

Inflation data: Friday will bring the Fed’s favored inflation gauge, which is expected to show the slowest inflation since late last year and open the door to possible Fed rate cuts later this year.
The Fed: Mortgage rates will remain near the current levels as long as markets believe the Fed will cut rates later this year. Markets are currently expecting the Fed to cut rates starting in September and to cut rates twice by the end of the year. If markets believe the economic and labor market data would require the Fed to cut rates sooner or more aggressively, that would help mortgage rates improve. That is why next week’s labor market data will be important to mortgage rates.
Economic data: There’s really not a lot happening this week although Thursday will bring the final GDP numbers for the first quarter. It isn’t likely this data has a big effect on mortgage rates though.

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: 6.375% to 6.675%

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 June 24th, 2024