Updated almost 2 years ago on . Most recent reply
Duplex purchase, how to find financing…rural area of Vermont
Hi Id like to purchase a duplex that is currently rented to long term tenants and I’m trying to find a small loan $75k.
My credit score is above 800 and NO debt! but I only work part time by choice so my income is low but my assets are above $300k, can I find a loan based upon the current rental income of the duplex? Thanks!
Most Popular Reply
Hey Deb, great question. VT can be tough from a licensing perspective so be sure to double check with you broker/lender to make sure they are good to proceed. I like the idea as mentioned above that local banks may be a good fit for you due to the potential rural nature of the property. Best of luck and let us know how you proceed!