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Updated over 5 years ago on . Most recent reply

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Michael Noto
  • Real Estate Agent
  • Southington, CT
3,860
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5,752
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Refinancing 2 Non-Warrantable Condos In CT

Michael Noto
  • Real Estate Agent
  • Southington, CT
Posted

Does anyone have any lender recommendations for the refinancing of 2 non-warrantable condos? Condos are located in CT and we have owned each for over a year. Looking to refinance out of a hard money loan we purchased them with.  

The problem we are running into is the appraised value of each condo is around $80k and trying to get a lender to finance them separately has been tough due to the low loan amount and we are even open to putting them on the same loan if need be. The DSCR numbers are where they need to be also.

Any recommendations would be greatly appreciated. Thank you!

  • Michael Noto

Most Popular Reply

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703
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Tim Johnson
  • Lender
  • Grand Rapids, MI
445
Votes |
703
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Tim Johnson
  • Lender
  • Grand Rapids, MI
Replied

check with 

https://www.sproutwholesale.com/

We do a bunch of them in Michigan, I'm not licensed in your state, but we do a bunch of them with them.

Just FYI, they are slow, take forever, but they do close.  plan on 60 days to close

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