Traditional/Conventional

DSCR

Fix and flip loans

Another week of what will the Fed do.

This week has the potential to open the door for rates to move even higher, or to settle back down a bit, depending on how Wednesday’s Fed meeting and press conference play out.

What’s affecting rates this week:

Fed meeting: Wednesday at 2pm ET, the Fed is expected to leave policy rates unchanged, but will signal what may come at future meetings in its policy statement.
Fed rate forecasts: At this meeting, Fed members will make their anonymous forecasts for where policy rates will end this year and the next few years. The last projection was for three Fed rate cuts in 2024, and if that falls to two cuts it could pressure mortgage rates higher.
Powell press conference: Fed Chair Jerome Powell’s press conference at 2:30pm ET Wednesday is likely to cause volatility in mortgage rates, causing lender repricing and setting the direction for rates over the next few weeks.

DSCR Loans

Best Rate at 60% LTV: 6.45% 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: $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: 6.5% to 6.625%

Non-Owner Occupied: Low 7.25%

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 – 12%

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%

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 March 18 2024