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Updated almost 5 years ago,
Seeking advice! Financing issues with 2 SFH
Ran into an issue with financing. We got an offer accepted for 132K for two SFHs we plan to rent. Our lender won't do one blanket loan and with the required 20% down payment, it drops the value of each loan too low and they won't work with us. Our lender said other Banks in the area probably won't help us either. Hoping to solve this problem quickly with the help of BP!
The goal is cash flow, so longer terms are better for us. Also if it helps, the asking prices were $70 and $80K before we got it down to $132k.
Thanks in advance! 🤞🤞🤞