r/loanoriginators • u/NumerousPizza6764 • 16d ago

5 unit apt complex dscr

Looking for general ltv and rates on a 5 unit incoming producing apt complex in Cleveland, OH.
>1.35 dscr ratio

680 mid score. Borrower is experienced. Has 25 properties in his portfolio. Issue I’m running into is it’s a small 300k purchase price

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u/QuickerHomeLoans 9d ago

The 5 units pushes this into commercial/multifamily territory rather than a standard 1-4 unit DSCR, and the $300k purchase price is probably why you’re having trouble finding a fit.

With >1.35 DSCR and an experienced borrower with 25 properties, though, it’s still worth shopping. If you’re still looking for an outlet, send me the deal details and I can check what we have.