Updated over 9 years ago on . Most recent reply
Advice on getting financing under 100k (heloc/cash out refi)
Here is my story if anyone can help me out would be much appreciated. Im located in Northern CA (bay area) I have locked up a SFR under contract for 95k cash. I need help with financing. I can not provide 2-3 years tax statements as on paper I do not make enough money due to a previous HELOC and some credit card debit however I own 7 properties ( 6 off them paid off no debt total value 700k ) all of them collecting rent ( around 7k a month ) I can provide bank statements for proof of funds. I believe stated income is my only way to get funding. My credit score is 730
I have searched far and wide for local banks credit unions ( large and small ) to give me a stated income HELOC or Cash Out REFI with no luck.
Is there any lenders on this site that may help me get this financing or are there any small local banks anywhere in Northern CA that can help a savy investor. I can't get anyone to even consider this as they are not savy to real estate investing. Some of them haven't even heard of stated income which is just crazy to me.
Thanks