Traditional/Conventional

DSCR

Fix and flip loans

Rates are looking good!

Mortgage rates moved slightly lower last week after jobs data showed the labor market continues to cool, making a Fed rate cut at this month’s meeting almost guaranteed.

Mortgage rates could improve a bit more this week if inflation data shows inflation continuing to move lower, but we shouldn’t look for big drops in rates yet. Next week will bring the Fed meeting, and Fed Chair Jerome Powell’s press conference, where we will more likely see mortgage rates react.

What’s affecting rates this week:

Inflation data: Wednesday brings consumer inflation data while Thursday brings wholesale inflation data. It is likely that these reports will show that inflation continues to move lower, which is good for mortgage rates.
The Fed: Although the Fed doesn’t meet until next week, markets are currently pricing in the idea that the Fed will start cutting rates with a quarter point rate cut at this meeting. If markets were to anticipate a larger cut, such as a half point cut, we could see mortgage rates move lower in anticipation. However, that doesn’t seem likely at this point, with markets instead anticipating bigger cuts later this year.

DSCR Loans

40 year options now available!

Best Rate at 60% LTV: 6.125% 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 9th, 2024