OfflineI need unseasoned money in Kansas. Does anyone know of a source? One property is a mixed-use building with 4 apartments and a cafe. 100% leased. Want to borrow $100K.
The other is a 2 bed house that I own free and clear. I don't want FHA financing on it and have been told that it doesn't qualify for conventional financing. It's a very low balance, only need $20K.
Thanks - Cher
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I would look at trying to get a HELOC (home equity line of credit). These usually come with a low interest rate, and gives you access to the moey for a certain time period. Talk to you mortgage broker or banker to see about qualifying for a HELOC.
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Good luck on your new REI endeavors. Btw, check your email as you will get a note from our "eye in the sky" about posting your personal infor anyway except in PM's. I know b/c I have gotten a few!
Steve
We seldom get what we want, but we will always get what we expect.
You might go to just plane e,s thread re: banks in trouble to see if one of those are near you. Also, check with ALL of the SMALL banks and credit unions until you find one. Doesnt matter if they are local to you or not. They are out there.
Good luck
Steve
We seldom get what we want, but we will always get what we expect.