Mortgage help on a duplex

9 Replies

Have a duplex property under contract looking to close. After 25% down, the loan is less than 75k. Need advise on lenders who are reasonable. I already have 4 loans and finances are in pretty good shape with good credit score above 750and am in Atlanta, Georgia.

call or zillow a realtor in your area to find a lender.

unless you're talking about hard money?

Originally posted by @Moncy Samuel :
Have a duplex property under contract looking to close. After 25% down, the loan is less than 75k.

Need advise on lenders who are reasonable. I already have 4 loans and finances are in pretty good shape with good credit score above 750and am in Atlanta, Georgia.

Why wouldn't one of your current Lenders help you out? Something wrong with the deal?

Why wouldn't they believe this is their opportunity to make even more out of you? All the best...

Thanks Jeff and Brend

I didn’t reach to my Current lenders as they do loan above 75-80k only. This loan is around 60k

Originally posted by @Moncy Samuel :

Thanks Jeff and Brend

I didn’t reach to my Current lenders as they do loan above 75-80k only. This loan is around 60k

Seriously? They want to lose all your future custom over a (slightly) less-than-minimum loan?

ie. What I'm suggesting is: Ask them that - and mean it! Good luck...

Credit unions perhaps. I'm doing two small cash out refis currently with a credit union.

Do you have prepayment penalties on your previous loans?  If not, you can probably find a commercial lender who will bundle all the debt into one commercial loan and pay off the previous loans.

If you are purchasing buy-and-hold properties, you don't want to seek out hard money loans.  The interest rate will really hurt your cash flow.

I reached out to my mortgage broker and they are willing to do the loan. Broker uses the bank Nexbank

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