Refi's on Cheap Properties?
I'm looking for a 30 year cash out refi lender that will loan on cheap (75K -100K) properties, ideally with 6 months or less seasoning. Anyone have lenders that do this? In Illinois.
#1 Creative Real Estate Financing Contributor
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#1 Creative Real Estate Financing Contributor
- Lender
- Fort Worth, TX
@Alex Combs yeah, this is always a little more challenging. Usually the lower the value - the harder it is to find a lender. There are lenders that exist that have no loan minimums. Sometimes it's only for specific loans though. Again, it gets a little challenging the lower the value. I think I may know one lender in Illinois that has no minimum but I would always suggest to network with local real estate investors to see who they would recommend. There are tons of real estate investor groups in Illinois. Some publish in the BP Marketplace. Some post on meetup.com and some are even on facebook. Reach out to some and see what other investors in your neck of the wood suggest. Hope all of that makes sense. Thanks!
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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I have a lender that can help, happy to connect y'all
