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After holding steady at the start of the week, mortgage rates inched upward, continuing their rise after reaching the lowest levels of 2024 in September.

Rates have already increased on Monday, and there’s little to suggest a reversal this week. Just a few weeks ago the outlook pointed to rates slowly decreasing, but now the trend has flipped and we could see rates continue to climb.

 

 

What’s affecting rates this week:

• November’s approach: Though it’s a couple of weeks away, November could bring increased volatility. With jobs data, the election, and the Fed meeting on the horizon, mortgage rates may face even more upward pressure.
• Economic data: Only a few economic reports are expected later this week, but if they indicate a strong economy, it could push rates even higher.
• Fed rate cuts: Markets now expect a quarter-point policy rate cut at the November Fed meeting, with a 75% chance of another cut in December. If speculation of further cuts declines due to strong economic and labor data, mortgage rates may rise

 

DSCR Loans

40 year options now available!

Best Rate at 60% LTV:    6% to 6.375%

Best Rate at 70% LTV:    6.375% to 6.75%

Best Rate at 80% LTV:    6.80% to 6.99%

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: 5.99% to 6.375%

Non-Owner Occupied:  Low 6.875% 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 October 21st, 2024