Traditional/Conventional

DSCR

Fix and flip loans

A week of slight ups and downs!

Although headlines may still be sharing a bit of delayed results, mortgage rates did indeed move slightly higher since the Fed meeting and rate cut on the 18th. Although that may be a bit confusing, it is because mortgage rates are based on other market factors not set by the Fed or directly tied to the Fed policy rate, and markets had already anticipated the Fed rate cut and accounted for it.

Mortgage rates haven’t moved much since the Fed meeting but that could change this week when markets get to look at the most recent jobs data from September. Depending on what the data shows, mortgage rates may move higher or lower from here.

What’s affecting rates this week:

Labor market data: This week brings quite a few different labor market reports throughout the week, with the biggest one coming on Friday. Signs of labor market weakness could help mortgage rates move lower, while any surprise strength in the labor market could pressure mortgage rates higher.
Fed speakers: Fed members are out sharing their insight into the economy, labor market and future Fed policy rate cuts, influencing mortgage rates through the week.

DSCR Loans

40 year options now available!

Best Rate at 60% LTV: 5.9% to 6.375%

Best Rate at 70% LTV: 6.375% to 6.625%

Best Rate at 80% LTV: 6.60% to 6.8%

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: 5.3% to 5.6%

Non-Owner Occupied: Low 6% to 6.25%

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 September 30th, 2024