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Updated almost 8 years ago, 01/08/2017

User Stats

15
Posts
3
Votes
Bob Freitag
  • Wholesaler
  • Waxhaw, NC
3
Votes |
15
Posts

Need a mortgage on rental

Bob Freitag
  • Wholesaler
  • Waxhaw, NC
Posted

we closed on a rental house recently that we paid cash for. I want to get a mortgage on the property but am having a hard time finding a bank or lender that will offer more than 65-75% of the purchase price as we have not owned it a year yet.  We got a great price on the house and then put additional money into it to rehab for rent.    

Does anyone know of a lender that will look at the property and my credit and loan more money at competitive rates?

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