Traditional/Conventional

DSCR

Fix and flip loans

Rates are a little better!

Mortgage rates improved last week because markets grew more optimistic that the Fed was still committed to cutting rates later in the year despite inflation not falling much this year. Rates started improving after the Fed meeting on Wednesday when the Fed kept its policy rate unchanged and Fed Chair Powell made it clear that policy rate hikes were not yet on the table. Rates continued to improve through Friday’s jobs data which showed the first clear sign of a softening labor market.

This week is not likely to bring about much movement for rates after last week’s big moves. Mortgage rates are now back to reflecting two Fed rate cuts by the end of the year, and traders will be waiting to see what next week’s inflation data shows.

What’s affecting rates this week:

Economic data: There is little economic data this week to affect mortgage rates, but some Treasury auctions this week could have a small effect, especially Wednesday’s 10yr auction.

The Fed: Fed members will be out speaking this week, and will likely reinforce the message that the Fed needs to hold rates steady until inflation shows signs of moving lower

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

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 May 6, 2024