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Mortgage rates improved last week for the first time in weeks, as the elections were decided and the Fed cut its policy rate for a second straight meeting. There was lots of volatility though, with rates increasing immediately after the election results but then improving after the Fed meeting

It’s possible mortgage rates could continue to improve this week with some help from inflation data, but it is unlikely that we will see rates make any big moves lower. After hitting some of the lowest levels of the year in September, rates rose through October as the labor market and economy showed resiliency and future Fed rate cuts became less likely.

 

 

What’s affecting rates this week:

• Veterans Day: The bond market is closed on Monday and most mortgage rates will be unchanged from last week.
• Inflation data: This week brings both consumer and wholesale inflation data, and signs of cooling inflation will help mortgage rates improve. If data shows surprise signs of inflation increasing though it would pressure mortgage rates higher.
• The Fed: Markets will be listening to Fed speakers for signals about future Fed policy rate cuts

 

DSCR Loans

40 year options now available!

Best Rate at 60% LTV:    6.375% to 6.5%

Best Rate at 70% LTV:    6.625% to 6.875%

Best Rate at 80% LTV:    7.10% to 7.325%

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.

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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.

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Conventional Loans

Owner Occupied:6.275% to 6.525%

Non-Owner Occupied:  Low 7% to 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.

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Private Loans

Small Loans and Lenders (.5 – 3 Points): 9.5% – 12%

Large Lenders (15% down + 1 point + closing costs): 8.25 – 10%

 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

 

Who has the best terms on fix and flip loans in Colorado?  We are keeping track and it is between Cap Fund 1 and Merchants Mortgage

 

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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

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HELOCS

RENTAL HELOCS from 70 – 80%.     Fixed and adjustable.   RATES AT PRIME + O

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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 November 11, 2024