Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 6 months ago on . Most recent reply

User Stats

9
Posts
4
Votes

DSCR Loans for Properties Worth Under 50K Each

Andrew Hinspater
Posted

Good evening to everyone! I'll keep this post short and sweet: We are currently buying two properties under 50K each, but total purchase price for both properties would be 80K. Unfortunately, we have seen that many lenders ask for 75K PP per property. Are there any 30 year DSCR or Portfolio loans that would fund such a deal? If not, are there any that would allow us to refinance with no seasoning afterwards? Thank you for your answers, and any other creative financing suggestions!

Most Popular Reply

User Stats

4,576
Posts
4,414
Votes
Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
4,414
Votes |
4,576
Posts
Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied

This is too low value for any DSCR Lender I know of - vast majority of DSCR Lenders are at around $100k minimum loan amounts, some down to $75k and very rare but possible down to $55k - but this is loan amount not property value - so under $50k property value is basically impossible

This begs the question though - are these properties turnkey or need of renovations? At that value point, its hard to imagine they are in good shape - DSCR Loans are only for turnkey rentals - you might actually be looking for Hard Money for rehabs or a LOC

  • Robin Simon
  • [email protected]
  • Loading replies...