Updated over 3 years ago on . Most recent reply
Financing for a rental..........
Hi all,
I am trying to get some capital. I have a car that is worth roughly 20k and am not having any luck selling it on the private market. An option for me would be to get a loan to take the equity out of the car so I can have enough capital for a down payment. The only problem is my DTI would likely jump over most lenders threshold if I did a conventional 48-60 month term. Would anyone have any suggestions for a lender that can go up to a 10 year term if even possible. I know its unorthodox, but It would be able to help me secure a property I think has a lot of potential value, so I'm willing to do whatever I need.