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Debt Service Coverage Ratio (DSCR) loans allow real estate investors to qualify for a loan based entirely on the cash flow generated by the investment property, rather than their personal income. It can be used to close the mortgage on a 1-4 unit residential property as an LLC. Investors prefer this because typically they have…
Read MoreIf you currently have a VA-backed home loan and are looking to reduce your monthly mortgage payments, an interest rate reduction refinance loan (IRRRL) may be right for you. Refinancing lets you replace your existing loan with a new one under different terms. In order to be eligible, all of the following must be true:…
Read MorePrivate mortgage insurance (PMI) is a type of insurance required by lenders for certain mortgages, such as a conventional loan. Conventional mortgages often require private mortgage insurance when less than 20% of a home’s purchase price is put down. The cost of PMI insurance can vary, but a good guideline is between 0.5 – 1%…
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