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Updated about 10 years ago on . Most recent reply

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54
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5
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Jerry Robinson
  • Investor
  • Atlanta, Ga
5
Votes |
54
Posts

Refinance

Jerry Robinson
  • Investor
  • Atlanta, Ga
Posted

Hello BP'ers

Has anyone had luck with a local bank or national that does refinance on small loans? I have four of my rental I brought in Huntsville Alabama that are under 50k and I need to adjust to hopefully a lower rate and a longer term since they come due in August

Most Popular Reply

User Stats

277
Posts
187
Votes
Ursula B.
  • Involved In Real Estate
  • Winston-Salem, NC
187
Votes |
277
Posts
Ursula B.
  • Involved In Real Estate
  • Winston-Salem, NC
Replied

@Jerry Robinson If you can qualify for an account, Navy Federal does small loans at 75% LTV, 5% interest, 20 year amortization with a 5 year balloon. Not crazy about the balloon, but they will do single properties and blanket loans for small amounts (my first loan was $31,500 with them.

Good luck to you!

Ursula

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