Updated almost 7 years ago on . Most recent reply
Foreign National Loan with low min amount
Hi BP!
I'm looking to cash out refinance a property in Indianapolis. The SFH would probably appraise at $60k which means the loan amount would be around 0.75x$60k=$45k.
I only find lenders that do min loan $75k+ which means properties at $100k+.
I understand that in many areas in the US a min loan of $75k will get you very far but my sweet spot for investing in Indy is properties in the $50-80k range. Meaning these loans don't work for me. I need to find a lender who is willing to do lower amounts.
Looking forward to hear from you all!