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Updated about 6 years ago on . Most recent reply

User Stats

44
Posts
24
Votes
Phil Shearcroft
  • Rental Property Investor
  • Kansas City, MO
24
Votes |
44
Posts

Conventional Loans under $75k

Phil Shearcroft
  • Rental Property Investor
  • Kansas City, MO
Posted

Hey BP!

I'm trying to find a lender that will lend to an LLC under $75k. Are there any lenders who will give a conventional loan to an LLC under this threshold? I have a great little property in KC that needs a small conventional loan 20% down.

Any suggestions out there? I’m having a hard time finding financing for this amount.

Most Popular Reply

User Stats

703
Posts
446
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Tim Johnson
  • Lender
  • Grand Rapids, MI
446
Votes |
703
Posts
Tim Johnson
  • Lender
  • Grand Rapids, MI
Replied

Carrington Mortgage is a national wholesale lender. They don't have a loan min.  You would have to work with a broker.  But email them and see if they can connect you with a local broker.

Being that small of a loan, your rate and terms are going to be very similar to a commercial loan, so I would get pricing from both.  Commercial loan is way quicker to close than a conventional loan.

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