Lender halting loans - Looking for lender to refinance rental
Just received an anticipated email that the main lender LendingOne that I use to refinance my rentals after they have been rehabed and leased is halting loans - understandably so.
Looking for a lender to refinance 2 single family rentals.
Deal info is below incase any lenders looking at this...
Property 1
- Balance – 73K
- Estimated Value – 122K
- Rent - $1350
- Insurance - $600/year
- Tax - $298/month
- Looking for an ARM product 5-10 years. Not looking for cash out but a loan somewhere around 80K to cover prepaids.
Property 2
- Balance 99K
- Estimate Value 138K
- Rent - $1300
- Insurance 560/year
- Tax $244/month
- Looking for an ARM product 5-10 years. Not looking for cash out but a loan somewhere around 102K to cover prepaids.
Looking for