Refinance

[Jerry Robinson]

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

[Ursula B.]

@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