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    Paid 104k cash for house in 2021. Now worth about $200k. Rent for $1600. Have some credit card debt and been getting real estate license. I’d like to pull out $65k cash in a DSCR loan to pay off $30k in cc debt & $20k personal debt and hold onto $15k cushion. 748 credit score. How should I proceed?

    I

    Paid 104k cash for house in 2021. Now worth about $200k. Rent for $1600. Have some credit card debt and been getting real estate license. I’d like to pull out $65k cash in a DSCR loan to pay off $30k in cc debt & $20k personal debt and hold onto $15k cushion. 748 credit score. How should I proceed?
    byu/chapelhillchapman22 inrealestateinvesting



    Posted by chapelhillchapman22

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    1 Comment

    1. optintolife on

      Why not get a HELOC?

      DSCR loans can be semi predatory with prepayment penalties, origination fees, and repair requirements.

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