Investor Mortgage Report – Week of October 28, 2024

Categories:

Traditional/Conventional

DSCR

Fix and flip loans
That was the shortest refi boom in history!  
Next time don’t miss the quick dips in rates.  Sign up for our pricing alerts (email me Mike@thecashflowcompany.com).  Let us know what rate you are looking for and we will reach out when they hit your target.  Rates will be up and down for the next 12 to 18 months.

Mortgage rates rose last week as the 10yr Treasury yield moved higher and mortgage bonds, which are the true basis of mortgage rates, dropped to the worst levels since July.

Mortgage rates could be volatile this week, reacting to economic and labor market data, particularly Friday’s BLS jobs report. A strong jobs report could push rates to their highest levels in months, even with next week’s anticipated Fed policy rate cut. Remember, the Fed doesn’t directly set mortgage rates, and the upcoming cut has already been factored in by the market.

 

 

What’s affecting rates this week:

  • Economic and labor data: Multiple reports this week will highlight the health of the economy and labor market. If Friday’s BLS jobs report comes in strong for a second consecutive month, it could push mortgage rates higher.
  • Inflation data: Thursday’s PCE inflation report, the Fed’s preferred measure of inflation, will be closely watched. Persistent inflation could add pressure to mortgage rates.
  • The election: Markets are reacting to speculation around next week’s election and its potential impact on the economy, contributing to rate volatility

 

DSCR Loans

40 year options now available!

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

Best Rate at 70% LTV:    6.5% to 6.75%

Best Rate at 80% LTV:    6.99% to 7.25%

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:6.25% to 6.5%

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.


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

 


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


 


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 28, 2024

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