Find the Best Local Lender and DSCR Loan for Real Estate
In this episode, we’re joined by Nate Poole from Eagle Mortgage, a trusted local lender in Memphis. Nate discusses real estate financing options that cater to investors, with a focus on DSCR loans, which are a game-changer for those who want to borrow based on rental property cash flow. If you’re an out-of-state real estate investor looking for the best financing solutions, or if you’re navigating how to refinance a hard money loan into a fixed-rate mortgage, this episode has you covered. Learn about the importance of working with a local mortgage lender who can get creative with financing options and support your real estate investment goals.
One of the key insights Nate Poole shares is the importance of working with a local mortgage lender for real estate financing, especially in a market like Memphis. Eagle Mortgage stands out because they handle all aspects of the loan process in-house, from underwriting to processing, which speeds up the timeline and ensures you deal directly with real people. For investors, especially those buying rental properties, the DSCR loan (Debt Service Coverage Ratio) is a popular option. It offers a streamlined way to secure funding by focusing on the property’s cash flow rather than personal financial details, making it an attractive option for those wanting to invest in Memphis real estate from out-of-state.
Nate also touches on financing strategies for investors looking to refinance hard money loans into fixed-rate mortgages. Hard money loans often come with high interest rates and short terms, which can create cash flow challenges for investors. By refinancing into a DSCR loan or another fixed-rate product, investors can stabilize their finances, reduce expenses, and increase profitability. Whether you’re investing in Memphis or exploring opportunities from afar, Nate’s advice can help you identify the best financing options for your real estate investment needs.
In this Find the Best Local Lender and DSCR Loan for Real Estate episode:
- Working with a Local Mortgage Lender – Nate Poole highlights the value of working with a local lender like Eagle Mortgage, especially for Memphis real estate investors. By processing loans in-house, Eagle Mortgage provides faster approvals and more personalized service, which is crucial when navigating complex real estate financing options.
- What is a DSCR Loan and How Does It Work? – DSCR (Debt Service Coverage Ratio) loans are designed for real estate investors who want to secure funding based on the cash flow of the rental property. Nate explains that these loans require less paperwork and are easier to qualify for than traditional loans. As long as the rental income covers the mortgage, DSCR loans can be a great option for out-of-state investors looking to expand their portfolio in Memphis.
- Best Financing Options for Out-of-State Investors – Nate discusses various real estate financing solutions tailored to out-of-state investors. Eagle Mortgage’s flexibility in offering DSCR loans and refinancing options ensures that investors have access to creative solutions. Whether you’re dealing with a property in Memphis or elsewhere, Eagle Mortgage can help you find the best rates and terms.
- Refinancing Hard Money Loans into Fixed-Rate Mortgages – Refinancing hard money loans is a critical strategy for real estate investors. Nate explains how transitioning from a short-term, high-interest hard money loan to a fixed-rate mortgage can lower costs and improve long-term profitability. By refinancing, investors can free up cash flow and protect their investments as they continue to grow their portfolio.
In this episode, Nate Poole from Eagle Mortgage shares valuable insights for real estate investors who are looking for the best financing options. A local mortgage lender can be a game-changer when you’re trying to secure competitive loans in a fast-paced market like Memphis. DSCR loans, which focus on the property’s cash flow, are an excellent choice for investors who want a simple and straightforward approval process. This episode also covers key strategies for refinancing hard money loans, helping investors move from high-cost, short-term loans to stable, fixed-rate mortgages.
Investment Financing Questions Answered:
- How do I find a local lender for real estate investments in Memphis?
- What is DSCR in real estate and how does it work?
- What are the best financing options for out-of-state real estate investors?
- What is a 203K loan for rental properties?
- How can I refinance a hard money loan into a fixed rate mortgage?
If you’re an out-of-state investor or new to real estate financing, working with a local lender like Eagle Mortgage can make all the difference. Nate’s team offers creative financing solutions that national lenders might overlook, ensuring that you have access to the best real estate financing for your needs. Whether you’re exploring DSCR loans, refinancing options, or other strategies, Eagle Mortgage is ready to help you take the next step in your real estate investment journey. The insights shared in this episode will equip you with the knowledge needed to make smart financing decisions that align with your investment goals.
Get in touch with Nate Poole at Eagle Mortgage and Funding, Inc. here in Memphis TN at 901-761-9700 or online at https://www.eaglememphis.com/
About 5 O’Clock Somewhere Real Estate Investor Podcast
5 O’Clock Somewhere Real Estate Podcast throws out the script, brings common sense back to real estate, and has casual conversations about the one and only market that matters – Memphis! We’re not interested in what some real estate expert from California has to say because we know the truth: Memphis is where the smart investors put their money. Forget about Vegas, Nashville, and the rest of the country, Memphis is the blue-chip stock of the real estate world. We’ll tell you everything you need to know about why Memphis is the safest and hottest place to buy rental real estate, and how you can be a part of a smart investment.
If you would like to join the conversation, participate in an upcoming recording, or just call to bounce ideas off one of our team, you can call or text us at 901-692-7401. Or if you prefer send us a message.
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