How to find lender for small investment deals? (Under 100K)

Question

Hello there,

After listening/reading to Biggerpockets, Now I save some money for the down payment and found a condominium.

The condominium is 100K, but now all lenders keep saying it is too small, they can't give me the loan,

any suggestions?

Cody Campbell · Answer

I would just find the closest bank to property and walk in. Banks like loaning on properties that are close to them.

Raj Singh · Answer

Hi @Harjeet Bhatti,

I tried but they said no they can't, but now I contact with Golden 1 credit union, may they will help.

thank you

Harjeet Bhatti · Answer

@Raj Singh Mostly banks will be able to work on small loan amount.

Raj Singh · Answer

@Cody Campbell Thank you! i will this

Raj Singh · Answer

Hi @Cady

They said the loan amount is too small. condominium price is 100K and -25% (down) =$75k Loan amount.

I talked with my local lender (who gave me a loan for my first home) and other local loan agents and QuickenLoans.

Cody Campbell · Answer

Raj,

What is too small the loan? The property? Are you talking with banks for this deal?

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