Investor · Galveston, TX · Member since 2015 · 20 posts · 6 votes
I'm looking for best rates to purchase or refinance/cash out on investment properties where the loan balance is 60 to 99k. I have good credit. Any recommendations would be helpful. I'm in a little state called "Texas."
Investor · Champaign, IL · Member since 2018 · 160 posts · 114 votes
5y
@Lann Smith - call small banks in the area you intend on investing. Each bank is different and the smaller banks tend to be more willing to work with balances of that size. This past week, I called 5 banks. Two of them wanted to do business. The other three either did not call me back or were not interested in adding single family rental properties to their lending portfolio. Big banks tend to only want to deal with 6 figure or more loans.