Refinance House under $50K in Florida

4 Replies

Hi All,

Does anybody know if it's possible to refinance SFR under $50K? I checked with local (Florida, Orlando area) mortgages companies and lowest loan is around $50K but how about refinancing? Does the same rule apply?

Looking at sellers finance with baloon payment but not quite sure if I'll be able to refi if house is under $50K.

Any advice will be appreciated. 

Thanks.  

I've had the same problem and finally found a small local bank that understands there is a lot of loans for less than $50,000 to be had. If you haven't tried small banks, give it a shot.

Originally posted by @Stan Hill :

I've had the same problem and finally found a small local bank that understands there is a lot of loans for less than $50,000 to be had. If you haven't tried small banks, give it a shot.

 Hi Stan,

Thanks for advice. I will give it a shot. It looks like people are able to get it from small community or similar banks. Need to do my homework. Thx again. 

I stumbled on this thread while searching for a cash out refinance on smaller properties. 

@Darren Eady Does your company provide those services?  The property I'm referring to is in Baton Rouge, LA and worth $65-70k.  Thanks