Lenders that loan under 100k

Tampa, Florida
Buying & Selling Real Estate
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Lenders that loan under 100k

William Doyle
New to Real Estate · Clearwater, FL · Member since 2022 · 21 posts · 6 votes

Curious about  lending on homes or condos under 100k. what would be the best direction to head to find such information. I’m trying to go the route of dscr loans or a similar product.  I’m located in Florida so any information would be great ! So I can learn more about the process

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Brittany MinocchiBusiness Member
Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
2y

I know of multiple lenders that'll go lower than $100k. Keep in mind that many of the fees are fixed, so they're the same on a $75k loan or a $750k loan...they can seem high relative to the low loan amounts. Happy to connect if you'd like to discuss, feel free to reach out!  

[email protected]330-354-6590
Brittany Minocchi - Barrett Financial Group, LLC522 Reviews
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  • Rachel KokosenskiPro Member
    Realtor · West Michigan · Member since 2017 · 105 posts · 53 votes
    2y

    @William Doyle - I recommend looking for an investor-friendly lender in your area. A mortgage broker could also be very helpful. 

    Are you working with an investor-friendly real estate agent in Florida? They should hopefully have some lender partners that they can connect you to for these questions. 

    1Reply
  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    2y

    I know of multiple lenders that'll go lower than $100k. Keep in mind that many of the fees are fixed, so they're the same on a $75k loan or a $750k loan...they can seem high relative to the low loan amounts. Happy to connect if you'd like to discuss, feel free to reach out!  

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC522 Reviews
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  • John K.
    Lender · West Palm Beach, FL · Member since 2017 · 306 posts · 122 votes
    2y

    Hi William, 

    All lenders that I work with require a min loan amount of $100k for DSCR. A private lender may be willing to do a lower amount but the fees will be outsized for the loan size. What price point are you looking in? I imagine you would be putting 50%+ down as there aren't many properties in Tampa for that cheap!

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  • Doug Smith
    Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
    2y
    Quote from @William Doyle:

    Curious about  lending on homes or condos under 100k. what would be the best direction to head to find such information. I’m trying to go the route of dscr loans or a similar product.  I’m located in Florida so any information would be great ! So I can learn more about the process


     Hi William, I'm right across the Bay in Tampa. In some instances, we go go down to $75K. PM me and we can schedule a chat. Perhaps I can help. 

    1Reply
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 664 votes
    2y
    Quote from @William Doyle:

    Curious about  lending on homes or condos under 100k. what would be the best direction to head to find such information. I’m trying to go the route of dscr loans or a similar product.  I’m located in Florida so any information would be great ! So I can learn more about the process

    Hi William! Local to you here in Tampa, down the road in st Pete. There are a handful of lenders that will go down to 75k for a loan amount on investment properties. Standard DSCR rules apply 
    [email protected]860-538-3672
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  • William Doyle
    OP
    New to Real Estate · Clearwater, FL · Member since 2022 · 21 posts · 6 votes
    2y
    Quote from @Devin Peterson:
    Quote from @William Doyle:

    Curious about  lending on homes or condos under 100k. what would be the best direction to head to find such information. I’m trying to go the route of dscr loans or a similar product.  I’m located in Florida so any information would be great ! So I can learn more about the process

    Hi William! Local to you here in Tampa, down the road in st Pete. There are a handful of lenders that will go down to 75k for a loan amount on investment properties. Standard DSCR rules apply 

    thanks just getting back from vacation I’ll reach out when I get out of my morning meeting !!


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  • Dustin Lauer
    Lender · Orlando, FL · Member since 2016 · 340 posts · 115 votes
    2y

    @William Doyle

    Public records tells all.

    Unfortunately the best option is blanket financing for small values down to $50k per value (not loan).

    Listsource DataTree RealtyTrac SFRAnalytic and Forcasa are all good resources out there

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