Minimum Loan Amount for Second Home?

1 Reply

So I have a home that I'm renting out a unit in, but I'm looking to buy a second home for ourselves that we could eventually down the line turn into a rental. It's in Oklahoma in a cheap area, so the mortgage after down payment would be just over 50k. Does anyone have any recommendations for who I should reach out to for such a small mortgage? I'm having trouble finding anyone lending under 100k right now. Thanks!

Hey @Lucas Hammer I know of a private lender 5%-6% range that can do this. It would need to be bought in an entity and thus could not become a principle residence down the road. It must remain a rental. They have a minimum $75,000 home value minimum. Lowest I know of.

Hope this helps.