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Updated over 5 years ago on . Most recent reply

Small rural area, no comps for my duplex. How can I re finance?
I bought a duplex two years ago. It is owner carry. I have done extensive remodeling and upgrades and want to refinance the best egg loan I used into the original at a lower interest rate. Lenders here say we have no comps so no deal. Any suggestions?
Most Popular Reply

Keep asking lenders. It is obviously worth something, even if you have to do comps on a sq ft basis with SFH nearby. They should also be able to use the income approach to come up with a value. Maybe you can do the math and present to the bank as part of your pitch. Take the hard work out of it for them.