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Updated almost 6 years ago on . Most recent reply
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Lenders for loans under 75k in Maryland
Hi wonderful BP community,
I am looking to buy a 1-4 unit rental property in the city of Baltimore, MD but the lender I used to buy my first rental informed me that the lowest loan amount they'll approve me for is 75k , meaning the property must be at least 100k with me putting 25% down. The properties I'm interested in are all under 100k. Does anyone recommend a lender who works with loans smaller than 75k and is not a hard money lender?
Thank you in advance for reading and any feedback on this topic.
Most Popular Reply
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Erick Chavarria
have you tried a portfolio loan where you can wrap all your other properties into one loan?
I recommend calling a few listing agents who have properties for sale under $75k and ask them if financing is available and if they have a bank they recommend.
- Chris Seveney
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