Lenders who lend small amounts

[James Charlot]

Is it possible to find a lender who will lend a small amount on a deal, for example, property price 35k rehab 8k ARV 75k? As well as find a lender to refinance after 6 months for a long-term deal.

[Matt K.]

You'll need to  network to find the sub 50k loans, this will be most effective in the area you're trying to buy. Start with credit unions as they'll likely be your best bet.

Now, for a 35k house + 8k rehab... you're probably going to be close to 45k by time it's all said and done. But then you're likely going to need closer to a year of seasoning vs the 6 months and you'll be paying closing costs again. You'll be capped at 75-80% LTV as well. You'd be better served taking the 35+8 and paying for it with cash... then you can do delayed financing.

https://www.fanniemae.com/content/guide/selling/b2/1.2/03.html