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Updated almost 7 years ago,
Sub $50k Lender Needed for North Carolina
Hi BP Members,
I’ve got 4 rentals that I owe less than $50k on that I’m needing to refinance. These properties are currently on 5/1 ARM’s with a 15 year amortization. I’ve got plenty of time before the balloons are due but I’m wanting to go ahead and refi all of these into 30 year fixed mortgages while rates are still relatively low.
I have at least a 25% equity position in each property but I am not wanting to take any cash out. My focus is cash flow so I want to keep my monthly payments as low as possible.
Does anyone have a lender that does sub $50k loans that they’d recommend? I should also add that I need this lender to have online tools. I live in Seattle and the properties are in NC so I need an online portal that I can log in to and see mortgage balances, escrow balances, and tax statements. I’d also like to be able to close into an LLC but this isn’t a must.
Thanks in advance for the help!