If the seller wants to finance me the down payment of 25% , can the lender finance the rest if all other metrics makes sense DSCR above 1.2 etc , I am Canadian looking to buy in the US , I live 2 hours from the border and found an STR property that doing extremely well.
Any land size (acreage) limitations?
Good question. I'm not 100% sure, but up to 20 acres maybe? Also, if the property is rural, it get's harder to find lenders.
Does DSCR loans help out with renovation or do I take out another loan for that?
No, you'd need a fix-n-flip loan for that. Then refinance into a dscr.
@@JefftheMortgagePro
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What investors are you seeing for 25% down? That allow for short term rentals?
HomeXpress is a good one. Truly Investor Capital is another.
Thank you sir
If the seller wants to finance me the down payment of 25% , can the lender finance the rest if all other metrics makes sense DSCR above 1.2 etc , I am Canadian looking to buy in the US , I live 2 hours from the border and found an STR property that doing extremely well.
Unfortunately no. You need to have your own down payment for this program. 😞