Looking for banks and or credit unions with low loan minimums

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Looking for banks and or credit unions with low loan minimums

George P George IIIPro Member
Rental Property Investor · St. Louis, MO · Member since 2020 · 14 posts · 3 votes

I’m in the St. Louis market and am having a difficult time finding banks to refinance (Brrrr)

On single families under 100k

Most of the banks and credit unions I’ve called and spoken with all have minimums of 125+ on value of property.

I’m investing in areas that rent well, but values just aren’t there.

Any help would be appreciated!!

Thank you

GG3

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  • David Kelly
    Lender · Nationwide Lender · Member since 2019 · 391 posts · 140 votes
    4y

    I am able to do loan amounts down to $80,000 with conventional financing.  I lend Nationwide.  

    0Reply
  • Kyle Eckert
    Realtor · Saint Louis, MO · Member since 2017 · 228 posts · 174 votes
    4y

    @George P George III

    Just curious, what area are you working in where the ARV is below $100k?

    I also have a lender who can write loans of 100k, but not under.  I can connect you if you would like.

    Cheers.

    0Reply
  • George P George IIIPro Member
    OP
    Rental Property Investor · St. Louis, MO · Member since 2020 · 14 posts · 3 votes
    4y

    @Kyle Eckert

    North county.

    2/1 850sqft

    Cash flow is excellent but property values aren’t.

    0Reply
  • Harjeet BhattiPro Member
    Lender · Glenview IL- CDLP NMLS#230554 · Member since 2015 · 2k+ posts · 747 votes
    4y

    @George P George III We don't have lower loan amount restriction as long property is in livable condition. 

    0Reply
  • George P George IIIPro Member
    OP
    Rental Property Investor · St. Louis, MO · Member since 2020 · 14 posts · 3 votes
    4y

    @Harjeet Bhatti

    What is your company info??

    0Reply
  • George P George IIIPro Member
    OP
    Rental Property Investor · St. Louis, MO · Member since 2020 · 14 posts · 3 votes
    4y

    @David Kelly

    Would be interested in learning more.

    0Reply
  • Harjeet BhattiPro Member
    Lender · Glenview IL- CDLP NMLS#230554 · Member since 2015 · 2k+ posts · 747 votes
    4y

    @George P George III I work for 5/3 Bank. 

    0Reply
  • Alicia SierraBusiness Member
    Real Estate Agent · Saint Louis, MO · Member since 2015 · 132 posts · 70 votes
    4y

    I can recommend a contact at Paramount Bank - you are welcome to PM me

    Alicia Sierra - EXP REALTY4.953 Reviews
    WebsiteView Page
    0Reply
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