Mortgage Lender for Cash Out Refi on Rental Property Worth <$50k
I have a client that wants to buy one of my investment properties for roughly $50k (she has the cash).
After closing, she wants to take 80% of the equity out and use it to buy another property.
I know properties that are less than $50k in value are a bit tougher to get loans on. Can anyone here recommend a loan officer that they've worked with on a similar dael?
If you're a loan officer yourself, I don't mind you throwing your hat in the ring. BUT please have done a loan like this before.
I'm not looking to send my client to someone that's going to take advantage of her by charging a bunch of points to get this done.