Traditional/Conventional

DSCR

Fix and flip loans

Waiting on the Fed!

Mortgage rates continued to move lower last week, but once again it was in small steps rather than seeing big rate drops. Rates were helped last week as reports came out showing inflation rose at the slowest pace since early 2021, as well as markets pricing in the chance of a larger rate cut at the September Fed meeting.

Mortgage rates are likely to start the week relatively unchanged but have the potential to move lower after the Fed meeting and Fed Chair Powell’s press conference on Wednesday. Expect volatility after the meeting and into Thursday

What’s affecting rates this week:

Fed press conference: Expect more market reactions to Fed Powell’s press conference, which will affect mortgage rates this week.
The Fed: The Fed will be cutting rates at this week’s meeting, with markets now anticipating that cut to be a half point rather than the previously expected quarter point, after an article last week in the Wall St Journal. While mortgage rates are not set by the Fed, they will react to the Fed rate cut as well as the quarterly projections of Fed members on where the policy rate will be in the future.

DSCR Loans

40 year options now available!

Best Rate at 60% LTV: 5.99% to 6.375%

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

Best Rate at 80% LTV: 6.70% 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: 5.4% to 5.6%

Non-Owner Occupied: Low 6.125 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 to 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 16th, 2024