Looking for Lenders to Exit My Share in a 2-Unit Multifamily – Hartford, CT

[Andrew H.]

Hi BP Lending Community,

I'm hoping to tap into your expertise for a somewhat unique ownership situation and get feedback—particularly from lenders who may lend based primarily on property cash flow and equity rather than borrower credit.

I currently co-own a 2-unit multifamily property in the North End of Hartford, CT, with my sister. I live out of town; she lives nearby and wants to hold the property long-term. I’m looking to exit my 50% interest, but she doesn’t qualify for a traditional refinance due to credit history.

Are there lenders who will refinance solely based on property equity and rental income—disregarding personal credit?

Property Snapshot:

• Estimated Value: $290,000 (per Zillow)

• Mortgage Balance: ~$172,000

• Estimated Equity: ~$118,000

• Ownership: 50/50 (between me and my sister)

• Monthly Gross Rent: $3,450

  • Unit 1: $1,650 (Section 8 – occupied)

  • Unit 2: $1,800 (Section 8 – recently vacated, being re-leased)

• Ground Lease: $150/month to a local nonprofit (drops to $75/month if owner-occupied)

  • 99-year lease that automatically renews with each sale

  • Charity does not allow a lease buyout

Thank you in advance,

Andrew