All Forum Posts by: Kurt Milliron

Thank you all for the direction and encouragement! I will hunt that mortgage down and bag it!

Live long and prosper!

Thank you Kelly for the feedback, and I'll keep beating the bush. In all my inquiries, I always lead with the $61k purchase prices, but I'll be alert if the rep doesn't seem to be on the same page.

Hello All, new to BP but loving it!

A friend of the family has dropped a great opportunity in my lap to buy a 3/1.5 that is 2 blocks from me that has solid tenants and cash flow and I estimate the FMV is around $75k.

My challenge is that the purchase price is $61k, what they owe, so after the 20% down, the mortgage would only be $48k which the banks I've checked with so far have all said is too small and would cost too much.

Is it just a matter of continuing to beat the bush for a mortgage company that will write it or should I look at other options/strategies? 

Thanks for your help!