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Updated almost 3 years ago,
Blanket loan options
Anyone have suggestions for lenders to lend on smaller balance loans in Michigan. We have 8 properties that we bought ranging from $50K - $90K. I am hoping to not have to finance them individually, but rather in one big loan. I spoke to 5 lenders that offer those products and am not meeting either the minimum loan amount/property or minimum property value.
We're in a pickle as Credit unions in our state (WA), won't lend in MI and MI credit unions won't give us memberships because we don't work there. National credit unions do not offer blanket/commercial loans for SFRs.
Any recommendations would appreciated.