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Private Lending & Conventional Mortgage Advice

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Robert Walters
  • Arvada, CO
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Loan Denied For Too Few Comps

Robert Walters
  • Arvada, CO
Posted Apr 18 2019, 20:41

I am attempting to purchase a tri-plex in a somewhat small town. After appraisal, the bank has determined there are no comparable properties and thus no basis for the valuation and have denied the loan. This was a standard 25% down investment loan.

I am still very interested in the property. What are some alternative or creative approaches to this situation?

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