I need a recommendation for a first position HELOC Chattanooga TN
I have a house picked out off MLS. Between 50k and 60 purchase price. So lender options limited. It is an investment home. Prefer 20% down if possible. Looking for a recommendation for someone local, preferably a credit union. Thanks! Daniel
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
You don’t need a heloc. You need a mortgage. Anyone should give you a mortgage on this property. Call 5 local banks and ask for someone in the mortgage department. Issue is.... 50k house is not likely financabke and if it is you don’t want to waste a loan on a 50k house certainly not a conventional loan.
Where is this house piny woods? 37406? do you have any experience with low income? It’s not a good place to start. I’m happy to help send me a message. This post will get taken down you’re not allowed to ask for recommendations. Good luck
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