Rental Re-FI cash out on SFR below $50k value?

Question

Anyone know of lenders that do cash out re-fi on lower value properties?

We can achieve great cap rates on properties that are in the 40-65k range, but notice most portfolio lenders don't go below a loan value of 50k typically (meaning total property value needs to be 72k and up).

Would love any advice on connecting with lenders that would say cash out a 45-50k value property with a renter at 700 after some seasoning period.

Kay Aula · Answer

I recently spoke to US Bank and they will loan down to $20K. I believe Penfed Credit Union will go down to $25K but give them a call to verify.

Jeremy Resmer · Answer

Thanks @Kay Aula and @Tom S.

Tom S. · Answer

@Jeremy Resmer Smaller banks or credit unions in your area - you just have to keep calling. I've received a few below $50k in my area, but it is somewhat difficult.

Good luck!

- Tom

Rental Re-FI cash out on SFR below $50k value?

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