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Updated almost 7 years ago on . Most recent reply
Financing $35k property in Memphis, TN
I'm making an offer on a property today, expecting the purchase price to be between $35k and $40k but I've never financed a property in this price range. The home is in Memphis, TN, it's rented for $775/mo, and under management. The owner is unwilling to finance the property for me. Can I go to a regular bank and get a conventional mortgage for less than $50k? Does anyone know of any lenders in the Memphis area that can help me with this?
Thanks
Ben
Most Popular Reply
Douglas Skipworth
Professional Services
Pro Member
- Rental Property Investor
- Memphis, TN
- 1,135
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Congrats on the deal!
I know the lenders at Brighton Bank will look at financing the property for you. Shoot me a private message and I'll introduce you to them if you'd like.
- Douglas Skipworth
Investor's Guide to Memphis Real Estate