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Updated about 8 years ago on . Most recent reply

Peyton Bailey's profile image
Peyton Bailey's profile image
Peyton Bailey
  • from Portsmouth, Virginia
  • Member since Dec 6, 2016
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Peyton Bailey's profile image
Peyton Bailey's profile image
Peyton Bailey
  • from Portsmouth, Virginia
  • Member since Dec 6, 2016
Connect
Peyton Bailey
  • Portsmouth, VA
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Starting Out

Multiple Lenders to Fund a Deal

Peyton Bailey
  • Portsmouth, VA
Posted

Hello everyone! My name is Peyton and I'm getting ready to flip my first home. I recently got approved for a loan that was 70% LTV and will also cover the rehab costs. However, I don't have enough cash reserves to cover the loan fees and remainder of the property. Would it be wise to try and get a business loan from a small bank to cover the costs? Also, is this information that needs to be communicated with the lender?

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