Using personal loan

[Jeorge Hood]

Has anyone used a personal loan to fund a small home purchase, if so did it work out?  Or does anyone have lenders that do less than $100000

[Stacy Raskin]

There are lenders that will lend down to a $75K appraised value for a DSCR loan and a $50K loan amount depending on the borrower's credit and the rental property location for a ready to rent home. There are conventional loans for owner occupy and investment properties that go down below $100K and those will be structured based on the borrower's credit score and debt to income (DTI) ratios. For distressed properties, from loan programs I've seen for fix and flip properties, the combination of the property purchase loan (up to 90% of the purchase price) and the rehab (done on draws) needs to be above $100K. Happy to connect to discuss further.