| Author |
Previous Topic | Next Topic |
|
brokerintheskye
2368 Posts |
 Posted - 05/09/2008 : 06:42:29 AM
|
Purchase price 460K
20% down
FICO: 730
Self-employed
SIVA
DSCR: 1.25
N/O/O
Borrower does NOT have mangagement experience. |
|
PinnaclePeters
943 Posts |
Posted - 05/09/2008 : 07:22:28 AM
|
Previous experience not required with our product.
Are all units rented?
Should be 8.50% on a 30 fixed w/ no lock-out, no balloon. |
|
|
gman1958
257 Posts |
Posted - 05/09/2008 : 07:52:17 AM
|
Skye,
From the appearance of your post, this is a full doc deal. Get me the rent roll, leases, income and expense report, sellers schedule E's or 1120's for the past 2 years, a few pics of the property, copy of purchase copntract, 6 months PITI, recent credit. This will help us determine if the property debt services at 1.2 or better.
Please call me to discuss...
|
|
|
Matt W.
1771 Posts |
Posted - 05/09/2008 : 08:41:17 AM
|
What interest rate did you use to calculate DSCR? Would like to discuss further, please call or email.
Thanks,
|
|
|
hjames1908
53 Posts |
Posted - 05/09/2008 : 09:27:20 AM
|
| If you're in Chicago you may want to try local banks: 1st Commercial and Belmont B&T. |
|
|
yldspread
387 Posts |
Posted - 05/09/2008 : 10:53:20 AM
|
| Try Bridgeview Bank Group. They also do construction |
|
|
juando67
89 Posts |
Posted - 05/10/2008 : 1:35:20 PM
|
| Bridgeview is good. Also try State Bank of Countryside, Interstate Bank, Delaware Bank and Lakeside Bank. |
|
|
tarek
32 Posts |
Posted - 05/11/2008 : 07:34:27 AM
|
| try velocity |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
