Does anyone know of any DSCR lenders that loan under $75,000?
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.
Quote from @Joyce Williams:BHG is not a mortgage lender.
@Aaron Lathan……..Try BHG Financial….. ask for Krystian. 315 679 5096…. Let me know how it works out.
Quote from @David Howard:
Quote from @Aaron Lathan:
Quote from @Jesse Holsapple:
We can go as low as 55k funded after dp. At that point though it isn't as much about the value as it is about the livable condition. But we can. Always happy to chat.
Awesome! Shot you a request. I'd love to go over specific properties with you to see if it's feasible.
In the same boat in St Louis. Were you able to find something? Did Jesse Holsapple work out?
He did go down pretty low but not low enough for the properties I was looking at.
This is out in West Texas but I have a local lender that financed $48,000 on a $58,000 property for me a month ago. DSCR was about 1.8% though.
Quote from @Brad H.:
This is out in West Texas but I have a local lender that financed $48,000 on a $58,000 property for me a month ago. DSCR was about 1.8% though.
I’ll give them a try. Mind sharing some contact info?
Quote from @Aaron Lathan:
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.
Hey Aaron, what we typically do for this is bundle properties together in a portfolio loan to get them above 75k. Have you considered that?
check with @Jayson Cain
Quote from @Kevin Whisler:
Quote from @Aaron Lathan:
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.
Hey Aaron, what we typically do for this is bundle properties together in a portfolio loan to get them above 75k. Have you considered that?
I've found "lendency.com" that I believe will go down to $55K, but value has to be $100K. Good luck
Quote from @Rhonda Smith:
I can help you with that if you still need someone.
I need help with that. I am in the same boat of needing to find a DSCR lender that funds under $75K. I would appreciate the help!
Quote from @Jesse Holsapple:
We can go as low as 55k funded after dp. At that point though it isn't as much about the value as it is about the livable condition. But we can. Always happy to chat.
Is this for a DSCR loan or conventional?
I got word today of a lender willing to do a 2nd position DSCR!
Quote from @Kevin Whisler:
Quote from @Aaron Lathan:
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.
Hey Aaron, what we typically do for this is bundle properties together in a portfolio loan to get them above 75k. Have you considered that?
Hey @Kevin Whisler, are you able to do this in MS? I am finding a ton of properties <50k but having trouble getting lending because of that. Would be so much easier to combine deals together.
Quote from @Aaron Lathan:Does anyone have specific lenders that offer DSCR of $50k? I need to contact them. This is a great thread. Thanks!
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.
Quote from @Sharyn Deans:
Quote from @Rhonda Smith:
I can help you with that if you still need someone.
I need help with that. I am in the same boat of needing to find a DSCR lender that funds under $75K. I would appreciate the help!
Did you find anyone?
Quote from @Dani Owens:$50k loan amount or $50k purchase price/value? There's an option for $50k loan amount as long as the value is $75k or higher....fees and rate will be bit higher than higher loan amounts. Feel free to connect!
Quote from @Aaron Lathan:Does anyone have specific lenders that offer DSCR of $50k? I need to contact them. This is a great thread. Thanks!
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.
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Broker Ohio (#NMLS 2339224)
- Barrett Financial Group, L.L.C.
- 330-354-6590
- [email protected]
Many DSCR lenders stay away from these since they are such an illiquid asset class. Same thing with ~$3m+ deals. You can do some of these lower-valued deals as a portfolio, but other than that, credit union/bank financing may be the way to go.
Quote from @Brittany Minocchi:Thanks! I’ll email you.
Quote from @Dani Owens:$50k loan amount or $50k purchase price/value? There's an option for $50k loan amount as long as the value is $75k or higher....fees and rate will be bit higher than higher loan amounts. Feel free to connect!
Quote from @Aaron Lathan:Does anyone have specific lenders that offer DSCR of $50k? I need to contact them. This is a great thread. Thanks!
Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.