Investing in real estate can be a lucrative venture, but securing the right financing is crucial for success. In a recent transaction facilitated by Julia Knurova, a loan officer at MortgageDepot’s Hollywood branch, a single-family real estate investor was able to purchase a desirable single-family residence. The loan was structured using Debt Service Coverage Ratio (DSCR), offering attractive terms such as an 8.5% interest rate, no prepayment penalty, and a 30-year fixed period. Remarkably, the loan was approved swiftly, and the closing process was completed within a remarkable three weeks.
Julia Knurova, a seasoned loan officer at MortgageDepot’s Hollywood branch, played a pivotal role in securing the ideal financing for the single-family real estate investor. By utilizing the Debt Service Coverage Ratio (DSCR) model, Julia ensured that the borrower’s rental income would adequately cover their loan payments. The borrower was delighted to discover that their loan carried an attractive 8.5% interest rate with no prepayment penalty, allowing them to potentially refinance or pay off the loan early without any financial repercussions. Furthermore, the borrower was offered a 30-year fixed term, providing stability and predictable payments over the long haul.
One of the standout aspects of this transaction was the expedited loan approval and closing process. Thanks to Julia’s expertise and efficient coordination, the borrower received swift approval despite the loan being of a smaller balance. MortgageDepot’s streamlined procedures and commitment to customer service ensured that unnecessary delays were minimized. Within just three weeks, the loan was processed, approved, and the closing formalities were successfully completed. This allowed the borrower to swiftly secure their investment property, capitalize on market opportunities, and begin generating rental income without unnecessary delays.
The collaboration between Julia Knurova, the loan officer at MortgageDepot’s Hollywood branch, and the single-family real estate investor exemplifies the efficiency and effectiveness of the mortgage process. By leveraging a DSCR loan structure with attractive terms like an 8.5% interest rate, no prepayment penalty, and a 30-year fixed period, the borrower was able to secure their investment property swiftly and commence their real estate venture on a strong footing.