Conventional Mortgage Loans Under 100k purchase for buy and hold 30 yr fixed in NC

[Angela Lopez]

Hi guys! Looking for that unicorn in NC. Purchase price between 90-110 SFH for buy and holds that need minimal work. So far can't find lenders to go conventional below 157k purchase price. Taking suggestions for brokers, credit unions and local banks (that accept out of state investors and offer 30yr fixed), regional banks, etc.

This is what was offered to me as DSCR. I've gotten better than this in OH and PA; there must be something better out there!

DSCR 75K Loan Amount:

• We are able to offer DSCR on minimum loan amounts of 75K, however- this reduces the LTV from 80% to 65% *putting down 35% instead of 20%
• Loans 75K-99,999K are capped at 65% LTV
• Would need a minimum purchase price of 116,500 for this scenario
• This is your higher cash to close option but lowest monthly payment (estimate at 680-720- will depend on property taxes/insurance)

DSCR 100K Loan Amount:

• This is the minimum loan amount for option to put down 20%
• Would need a minimum purchase price of 125,000 for this scenario
• This is your lower cash to close option and estimated payment would be 920-970- will depend on property taxes/insurance)