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Despite slowing inflation nearing the Fed’s 2% target and a drop in October’s job creation to pandemic lows, mortgage rates rose last week.

This week, mortgage rates may fluctuate due to the elections and the Fed’s meeting. Although the Fed is expected to cut its policy rate again, this won’t directly lower mortgage rates. Markets will likely be volatile, which could cause volatility in mortgage rates.

 

 

What’s affecting rates this week:

• Fed Meeting: The Fed is anticipated to cut its policy rate by 0.25%, though this won’t directly lower mortgage rates. Instead, rates may respond to the Fed’s policy statement and Chair Powell’s press conference that comes after. We could see mortgage rates react to expectations of future Fed rate cuts based on what is said in the policy statement and at Powell’s press conference.
• The election: While the presidential race draws the most attention, 469 congressional seats are also up for grabs, and traders will be working overtime speculating how results will affect the economy. Stocks may see more movement than bonds, but mortgage rates could be impacted as well

 

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:6.375% to 6.625%

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 4, 2024