DSCR, Rental Property Loans, and Our Most Crucial Mortgage FAQs

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You asked, and we answered the most important mortgage FAQs for real estate investors. Today, Christian and David go over DSCR loans, escrow accounts, risky down payments, mortgage recasting, and other investor-only questions that’ll help you lock down your next property faster. And EVEN if you aren’t buying now, you still need to hear what Christian and David say about existing loans.
It’s Monday, so it’s time for more mortgage content with Christian and David. We answered the most commonly asked questions from our Mortgage Monday series on today’s video. Questions like: how to transfer a DSCR loan into a conventional mortgage? Can I use a personal loan to fund my down payment? And how long do I have to wait to waive my escrow account and keep more money in my pocket? All those questions and more are answered today!
But we’re not done yet! Leave your mortgage question in the comments below so Christian and David can answer it in their next FAQ episode!
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Find an Investor-Friendly Agent in Your Area:
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Find Investor-Friendly Lenders:
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Check Out Another Mortgage Monday Video:
• Mortgage Monday
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What Is a Mortgage? The Ultimate Guide to Home Loans:
www.biggerpockets.com/guides/...
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DSCR Loans: What Are They And How To Get The Best Terms:
www.biggerpockets.com/blog/ds...
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Rookie Reply: How to Borrow Money for Down Payments (and Pay it Back!):
www.biggerpockets.com/blog/ro...
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Work with The One Brokerage:
Website: the1brokerage.com/
Email: christian@theonebrokerage.com
Intake Email: intake@theonebrokerage.com
Christian Bachelder NMLS 1668250
One Brokerage NMLS 2142653
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Work with David:
Website: www.davidgreene24.com/
RU-vid: / @davidgreene24
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Connect with Christian and David on BiggerPockets:
Christian: www.biggerpockets.com/users/c...
David: www.biggerpockets.com/users/d...
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Follow Christian and David on Instagram:
Christian: @the_one_broker or / the_one_broker
David: @davidgreene24 or / davidgreene24
00:00 Most Common Mortgage Questions
00:52 1. Can I Transfer a DSCR to Conventional?
2:57 2. Pre-Approvals for DSCR Loans
06:38 3. Can I Borrow a Down Payment?
09:23 4. When Can I Waive Escrow Payments?
10:54 5. When Can I "Recast" My Mortgage?
12:51 Ask This EVERY Time
15:03 Got a Mortgage Question?
[6:54PM

Опубликовано:

5 авг 2024

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Комментарии : 32

@neerajchaudhary1821 День назад

LOVE the direct, transparent information. Too much b.s. out there. Thanks for telling the truth.

@ParisPaidInFull Месяц назад

OMG this was so good! 🔥

@patelbv 9 месяцев назад

Love mortgage Mondays! I am learning new things like the “recast” and more details on the DSCR loans

@nicolasvalenzuela6265 9 месяцев назад

Great show! Clear and direct answers

@workplan01 9 месяцев назад

Amazing job on doing these Monday podcasts. I am looking forward to each of your episodes and give it 5 out 5 stars for content quality and staying on top of most recent developments in RE and mortgage sector !

@cozymelodiccorner 8 месяцев назад

I was really thankful for the information you provided on DSCR loans. Thanks very much for providing your knowledge and time. Have a Wonderful Weekend!

@DanKohan 9 месяцев назад

As a real estate investor, I often have questions about these topics, like the escrow waiver and recasting options. It's good to know that there's some flexibility when it comes to escrow payments, and you can recast your loan at any time if you make a big payment.

@christinegoodwin501 4 месяца назад

Dave you're morphing into Beardy Brandon!

@Emeraldnightmar 9 месяцев назад

Question: there is a property listed just outside of my qualified-for down payment + loan when using a conventional loan. Technically, I can qualify for a larger loan by using an FHA loan because a larger DTI ratio is allowed, and I can therefore qualify to purchase that home with an FHA loan. My question is that if the down payment is a large portion of the total payment, is there a MAXIMUM down payment allowed through the FHA program? I know this isn’t really the intent of the FHA program so a maximum isn’t really advertised, but I’m wondering what the max down payment limit is if there is one?

@ParisPaidInFull Месяц назад

Great question! I would like to know this as well.

@josephstevsns9506 9 месяцев назад

I am purchasing a property with private money, one of my options to pay back the lender is using a property that I am selling as cross collateralization and pay off that loan when I sell. the other option is to do a 12-month interest-only payment and refinance the property at the end. which one would you recommend I use and why?

@JF-vw9lv 9 месяцев назад

Does a HOA have to meet certain financial requirements with a DCSR loan?

@sidshri6080 5 месяцев назад

park in a driveway and drive in parkway... David mannn, ur greeeene bruh :D

@damienpapson366 9 месяцев назад

This one is pretty niche - I know you can use a VA loan for rentals only if you use it as a primary residence for 1 or 2 years. If you assume a VA loan, does the original lendee's residence time transfer too? I'm seeing some VA assumable listings at around 3% and wondering if it would be a viable investment without actually moving in.

@laurenarington2431 9 месяцев назад

Question: I have two properties, both in California, and would like to pull out equity to buy another property to live in. One property is in a trust fully paid off, the other, I currently live in with a really low interest rate, 30 year fixed, conventional. Which property should I pull money from and what method would you recommend using? Thank you, Lauren

@denisefino180 9 месяцев назад

Hello Cali home owners wanting to start our portfolio, the husband and I have about 70k of debt. We currently have a 2.75% APR which is amazing and we love our monthly mortgage payment. However, our home is a fixer upper and we can’t afford any of the major fixes due to our debt. Is it smart sell our primary home, use the equity to get completely out of debt, buy a new primary home with VA loan and buy our first rental with conventional loan.? Also how soon after we buy our primary home with va loan can we use conventional loan for a rental property?. Thanks for all the great info you and your team put out

@gabrielcisneros99 9 месяцев назад

I am a new entrepreneur who wants to invest into Rental Properties. What would you say is the best loan to start out with when wanting to start the Rental property investment journey. Maybe explain the difference with the strategy of living in the house for 1 year then finding tenants to live in the house versus acquiring a rental property following the BRRRR strategy.

@shakirabarrera1525 9 месяцев назад

Hey guys!!!! Thanks for educating and schooling us on Biggerpockets I know we all appreciate it! I have a question for you: my neighbor offered to sell me his home at a price of $450,000 and assume his VA loan of 1.8% (incredible I know). The problem is that the comps I have pulled say the home could be valued at $420,000. We haven’t gotten an appraisal yet but I am wondering if paying $30 k for that interest rate is worth it. I would rent the place for 3k and my mortgage is estimated to be 2k. Thanks so much!

@JasonAldeann-bt4xf 8 месяцев назад

Sure you can rent it.. but when that a/c needs replaced, roof ect your ready for that burden of responsibility. Also tenant issues. 420k home is a very expensive single family rental. With probably more than average upkeep. Only way I personally would do that deal is if I closed the home below comps for future protection of further value decline

@dulce8859 9 месяцев назад

Thanks so much for all the knowledge. I'm steadily working my way thru all your recordings and really appreciate the lack of "rah-rah" and the abundance of real world negatives that I may put into my pocket of knowledge to look out for...I'm currently purchasing with cash trying to get more negotiating power, then doing a "Delayed Financing" loan. It was explained to me that if after my repairs it appraises for enough value over my purchase I may be reimbursed the entire amount I have invested. The loan must be completed within 6 months of purchase. So far, it looks like I will be able to rent it for what I've listed it for and will recover all my money,so I can repeat the process🎉. Do y'all have any thoughts on pitfalls for this loan type that I have missed (other than the issue of not appraising where it needs to be)?

@ItsSoEmazon 9 месяцев назад

Nice!

@mike2959 9 месяцев назад

When the question was asked regarding borrowing funds for the down payment you both responded that it could potentially put you over the threshold of debt to income. I thought we were talking about a DSCR product? Debt to income isn’t a qualifier on a DSCR. Correct?

@CashFlowCountry 8 месяцев назад

Can conventional loans be used as a cash-out refinance loan? I am in the rehab process of my first BRRR!

@richlaron3895 9 месяцев назад

There’s mint much content on flipping real estate recently …is flipping not ideal on this real estate market?

@Ethernet480 9 месяцев назад

Why not just get a second home mortgage? 10% down and you don’t have to use it much at all

@armandgalleon8077 9 месяцев назад

For starters, is investmemt property will cash flow in today's market ?

@kareemofthecrop 9 месяцев назад

So this is an excellent point - I just ran projections on a short term rental. The lender used AIRDNA and the income projections were much greater than the debt service needed (about $5k per month more income than I had projected). They generally want 25% down and charge points upfront and pre-payment penalties. But they are a great tool for the right buyer. Getting what we want comes with a cost unfortunately!

@kareemofthecrop 9 месяцев назад

But further to your point - yes - this can definitely post a challenge especially on long term rentals.

@GM_____ 9 месяцев назад

It seems blatantly unfair to buyers that sellers can refuse to accept offers from anyone with an FHA or VA loan without even receiving the offer and reading it. That looks like a way to screen out protected classes from being able to purchase real estate without being held accountable for it in court.

@robmurray2297 9 месяцев назад

Used VA loan twice, the first part is false regarding a “repair.” I bought a 1950’s Arizona home that needed a ton of work, bank & VA appraiser did not care about the problems based off the market value of the house & what I was purchasing it for. This “fear” propaganda of being wary in negotiating with a VA loan hurts veterans getting into homes.