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Updated about 2 years ago on .

User Stats

26
Posts
10
Votes
Michelle Truong
  • Investor
  • Los Angeles, CA
10
Votes |
26
Posts

Looking for a lender to refinance a SFH under 70K.

Michelle Truong
  • Investor
  • Los Angeles, CA
Posted

Hi BP! 

I've been struggling to find a lender that would refi a property that appraised for 68k. We went through the whole process to get it refied with one lender, but there minimum was 70k. The lender said there was a chance we could get the refi done, so we paid for the appraisal and got everything almost to the finish line and after patiently waiting, the lender informed us that the bank wasn't going to let us even though we were off by 2k. It didn't work out for us in the end, and we've been searching for a lender that could help us.  Any one know any lenders that can help with this? This property is in Indiana. We paid cash and rehabbed it, but finding it difficult to get the refinance so that we can repeat. Any advice would be helpful!