Can I get financing for an investment property with a duplex and single family home on one tax lot?
I was interested in purchasing this property, and a mortgage broker told me there would not be enough comps to complete an appraisal.
Financing for investment properties has become more difficult over the past couple years. They are requiring more money down and there are many more obstacles, but I don't think its impossible. Just because you received a negative response from one mortgage broker doesn't mean that there isn't another that can find a way. Going to a local bank might provide more flexibility too. Another option might be contract for deed. In all these options though the more money you have to put down the more likely you will be to get financing. I hope you find this helpful.
If you are located in the Rapid City area, I can locate a mortgage broker that could probably assist.
The property is in South Dakota. I don't think hard money is what I'm looking for.
Didn’t find what you were looking for? Ask a question!
Ask a question
|
|
|
|
|||||||||||
|
|
|
Fair Housing and Equal Opportunity