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Updated almost 6 years ago,
How To Choose Type Of Financing?
We have 100% equity in a SFH rehab project not quite ready for conventional financing that should appraise for ~$285k in a few months and rent for ~$2000, but I'm cash-poor. Want to refi this property for $93k for the down payment and closing costs on a SFH buy-and-hold that seems very attractive--no problem getting a 30CONV on that one with 25% down. That conventional lender also had no problem with us borrowing the down & closing against the incomplete rehab, if we could do it.
How can I find advice on figuring out the least expensive type of non-conventional financing that suits our situation (830 FICO, good income, experienced landlords, other properties with decent equity)?