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May 23, 2023
The maximum loan-to-value (LTV) ratio for a cash-out refinance depends on various factors, including the lender’s policies, the type of property being refinanced, and the borrower’s creditworthiness. Generally, lenders have their own guidelines and may impose different maximum LTV ratios. For investment residential properties, such as single-family homes, condominiums, or multi-unit properties with up to four units, the maximum LTV ratio for a cash-out refinance is often capped at 70% to 75%. This means you can typically borrow up to 70% to 75% of the appraised value of the property, subtracting any outstanding mortgage balance. However, for commercial properties, including multi-unit residential properties with more than four units and non-residential properties like office buildings or retail spaces, the maximum LTV ratio for a cash-out refinance tends to be lower. It can range from 65% to 75% in many cases. It’s […]
April 27, 2023
There are many cities in the US that have some form of rent control, although the specifics of the policies can vary widely. Here is a list of some of the major cities with rent control policies: New York City, NY San Francisco, CA Los Angeles, CA Washington, D.C. Berkeley, CA Santa Monica, CA West Hollywood, CA Oakland, CA San Jose, CA East Palo Alto, CA Richmond, CA Hayward, CA Los Gatos, CA San Diego, CA Cambridge, MA Somerville, MA Brookline, MA Cambridge, MA Boston, MA Portland, OR Portland, ME It’s important to note that rent control policies are often subject to change and can vary in their specifics from city to city. Additionally, some cities may have other forms of tenant protection laws, such as just cause eviction ordinances, that provide additional protections to renters. Mortgage Rates Calculate Your […]
April 25, 2023
Are you a real estate investor who’s a bit confused about what DSCR is and how to calculate it? Don’t worry, you’re not alone. DSCR (Debt Service Coverage Ratio) can seem like a complicated financial metric that only the most mathematically gifted investors can understand. But fear not! With a little bit of humor and a lot of patience, we’re going to break it down for you. First things first, let’s define what DSCR actually is. In simple terms, DSCR measures a property’s ability to generate enough income to cover its debt obligations. Essentially, it’s a way to determine if a property is generating enough cash flow to pay its mortgage and other debt obligations. This ratio is important for lenders to assess a borrower’s ability to repay a loan, and for investors to assess the profitability of a potential […]
March 13, 2023
While it may be tempting to buy an investment property all-cash, especially in a hot seller’s market like the one we’re experiencing all across the U.S., as a real estate investor it’s typically best to secure a long-term mortgage. A long-term mortgage, of 15-, 20-, or even 30-years in length allows investors to take advantage of low-interest rates, and have a stable operating expense budget, that is not sent ratcheting up or down due to multiple loans and their accompanying interest rates. It’s not uncommon for a real estate investor’s application for an investment property mortgage to be rejected. While usually securing a mortgage for an investment property is much more streamlined and straightforward than securing a loan for an owner-occupied home, there are several factors that can cause your application to be rejected by a lender. This can happen […]