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All Forum Posts by: Jessica Thomas

Jessica Thomas has started 1 posts and replied 2 times.

Private Lending & Conventional Mortgage Advice

Post: Looking for financing for a low amount?

Jessica Thomas
Pro Member
Posted
  • New to Real Estate
  • Lafayette, LA
  • Posts 2
  • Votes 1

Thank you all so much for the insight and suggestions!

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Looking for financing for a low amount?

Jessica Thomas
Pro Member
Posted
  • New to Real Estate
  • Lafayette, LA
  • Posts 2
  • Votes 1

I have found a property (in Louisiana) that the owner wants to get rid of, so he is selling for $55k. It needs about $15k in rehab. The ARV is estimated to be around $84k. The problem I am having is finding financing for such a small amount. I am well qualified, excellent credit, and have the 20% to put down, but no lenders I can find want to make loans for less than $75k. Does anyone out there have any suggestions for what I should do? Thank you!!

1 Vote