Traditional/Conventional

DSCR

Fix and flip loans

Rates moving up for the week!

Mortgage rates were just slightly higher to end the week ahead of the holiday weekend, although it wasn’t much. Fed officials were out speaking last week, with most of them saying they needed to see more signs that inflation was still dropping before they would consider voting to lower the Fed policy rate later this year.

Mortgage rates may continue to creep slightly higher this week, although we shouldn’t see any big moves in rates. The big moves for rates could come next week when we get a lot of labor market reports and the BLS jobs data.

What’s affecting rates this week:

Inflation data: Friday brings the personal consumption expenditures index, the Fed’s favored inflation gauge that tracks what goods and services consumers buy and how much they pay for them. Economists expect to see the smallest increase in inflation so far this year, which could help mortgage rates recover a bit if they creep higher through the week.
Fed speakers: More Fed officials will be out speaking this week, likely to spread the same message as the members did last week, that the Fed needs to see inflation improve for a few months before cutting 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: 6.625% 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 May 27, 2024