How easy is 90% LTV?

Financing, Hard Money Lenders, Private Money
1

Hi. I’m ready to make my first re purchase. I’m lookin at 25-50 unit apartment buidlings. I have over 400k in assets and my income is around 120k. My credit score is 770. How easy would it be for me to obtain 90% LTV on say a $1-$2 M piece of property?

2

I don’t know how to answer, how easy it is but…

90% LTV loans are available for apartment purchases. It depends on the the type of apartment and the income of the property.

Regards,
Patti Porter

3

With a DSCR (Debt-Service-Coverage-Ratio) of atleast 1.20% and no defered maint./cost-to-cure this is very easy for properties selling for less than 1.1 million, it begins to get a little more dificult above that price.

4

where are you located, I’m in the Michigan area.

5

To put it bluntly…that is a piece of CAKE!!! with you’re scores and assets you will not have a hard time with this loan.

6

What state are you located in?

7

im in florida.

8

Is that a Regulation Z compliant ad?
lol

9

I am a commercial lender in Fla. and it sounds like an easy loan for someone with your qualifications but we lend 2 ways…

  1. based on individuals ability to pay back the loan (sometimes to 90% LTV) and
  2. The properties ability to generate enough income to pay for the loan. ( 90% LTV all day long).

Any property for sale should provide you with all the necessary info on the properties ability to generate income (profit loss statements and rent rolls). If they do not you may want to pass on that specific property.
I am always willing to discuss scenarios in greater detail.

10

Yeah 90% should be easily obtained. If you were willing to work with a partner you could do it for 100%

we can discuss…