Lender will not approve purchase due to the price is too low

[Hector Lewis]

Hello,

I found a multi family property that is under $100k. I am already approved for $130k. When I told my lender about the property, they stated they could not finance if it is under $100k.

Does anyone have any suggestions for trying to get this property financed?

Thank you.

[Mark Munson]

Hi @Hector Lewis

How many units is the property? A lot of DSCR lenders should be able to help, as minimum loan amounts go down to $50k with some lenders. They may have a "Per Door" value, so that is why I asked about how many units. I'd be happy to connect to see if I can help or give you some recommendations. Feel free to reach out.