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STVR Lenders in Florida/Miami?

joshua c Miami, FL

September 15, 2021

Anyone with experience as a STVR lender in Florida

Comments

kathleen m. Kansas City, KS

Feb 17 2022, 05:18 PM

What is the purchase price your looking at?


melissa w. Naperville, IL

Sep 17 2021, 03:08 PM

Hi Joshua!  I'll email you some lender recommendations! Thanks for reaching out!

jody d. Scottsdale, AZ

Oct 12 2021, 04:51 AM

Hi Joshua

I am an experienced. hard money lender, licensed originator and investor. We are doing 30yr loans for STRs with rate down to 3.75%. Fill me the message me and I will quote you a loan.

kathleen m. Kansas City, KS

Feb 12 2022, 05:04 PM

Hi Joshua.  I'd love to connect.  We have a great product that you might be interested in.  It's an investor cash-flow loan called DSCR (Debt Service Coverage Ratio).  This is not a commercial loan.  Your clients can purchase under their LLC in as little as 2 weeks and 15% down.  There is no income verification required either :)  

  • Qualification based on subject property Debt Service Coverage Ratio (DSCR) 
    • DSCR = Gross Rent/PITI on 15 and 30-Year Fixed Terms
    • DSCR = Gross Rent/ITIA for 30 and 40-Year Interest Only terms
    • Accepts DSCR greater than and less than 1.00
  • Loan Amounts Up to $3M
  • Credit Scores as low as 600
  • Unlimited Cash-Out
  • Cash-Out can be used as qualified reserves
  • No income and no employment required
  • LTV up to 85% on Purchases and 80% on Refinances
  • Two year seasoning on major credit events
  • Pre-payment penalties allowed
  • No tenant no problem on refinances

bhushan n. Davenport, FL

Feb 17 2022, 05:04 PM

Could you let me know current DSCR rates for a 740+ credit score individual and can put 20% down


kathleen m. Kansas City, KS

Feb 17 2022, 05:19 PM

also, what type of property are you looking at? Condo, SFR, multi-family?


bhushan n. Davenport, FL

Feb 17 2022, 05:30 PM

1.1 mil SFR

kathleen m. Kansas City, KS

Feb 17 2022, 05:45 PM

15% down is 6.125 w/ .25 points ($2337)


kathleen m. Kansas City, KS

Feb 17 2022, 05:47 PM

If you go with the 15% down 40yr (10yr interest only + 30 year FIXED), you're looking at 6.5 w/ .25 points


bhushan n. Davenport, FL

Feb 17 2022, 05:50 PM

Thank you
How much is the pre-payment penalty?

kathleen m. Kansas City, KS

Feb 17 2022, 05:53 PM

20% down DSCR 30yrs is 6% w/ .25 points ($2200) and the 40yr (10yr i/o w/ 30yr FIXED) is 6.375 w/ .25 points

kathleen m. Kansas City, KS

Feb 17 2022, 06:00 PM

5% PP.  the ones I quoted had a 1 yr PP

bhushan n. Davenport, FL

Feb 17 2022, 06:17 PM

Oh k. Thanks Kathleen