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Updated over 4 years ago,

User Stats

603
Posts
130
Votes
Adam Craig
  • Investor
  • Cleveland, OH
130
Votes |
603
Posts

Lender halting loans - Looking for lender to refinance rental

Adam Craig
  • Investor
  • Cleveland, OH
Posted

Just received an anticipated email that the main lender LendingOne that I use to refinance my rentals after they have been rehabed and leased is halting loans - understandably so.

Looking for a lender to refinance 2 single family rentals.

Deal info is below incase any lenders looking at this...

Property 1

  • Balance – 73K
  • Estimated Value – 122K
  • Rent - $1350
  • Insurance - $600/year
  • Tax - $298/month
  • Looking for an ARM product 5-10 years. Not looking for cash out but a loan somewhere around 80K to cover prepaids.

Property 2

  • Balance 99K
  • Estimate Value 138K
  • Rent - $1300
  • Insurance 560/year
  • Tax $244/month
  • Looking for an ARM product 5-10 years. Not looking for cash out but a loan somewhere around 102K to cover prepaids.
Looking for

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