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Updated over 7 years ago,

User Stats

107
Posts
13
Votes
Asher Anthes
  • Charlotte, NC
13
Votes |
107
Posts

What's my best option for mortgage under $50,000

Asher Anthes
  • Charlotte, NC
Posted

I'm closing in a few weeks on an investment property for $40,000 cash. I'll repair it and get a tenant in (should rent for $900 a month) and the ARV is $65-$70k

I want to pull the cash out as soon as I can, but having a little trouble finding lenders. Do you guys have any suggestions on where to look? And what are the best terms I'll be able to find. I'm hoping for 75% LTV (as long as loan doesn't exceed purchase price + repairs) and 5-6%??

Also, is it possible for me to get a HELOC or a commercial loan on this property?

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