Lowest Mortgage Rates with Lender411
Login | Register (FREE!)
  • Refinance
  • Buying a Home
  • Loan Quote
  • Mortgage Rates
  • Find a Lender
  • Ask a Question
  • Credit
  • Mortgage Calculators
  • News & Blog
Who does mortgages for less than 50k?

I am looking to buy a few investments properties in the phoenix area. The houses I am looking at are 40-50k but i cant seem to find a lender to lend less than 50k meaning the offer price would need to be 62,500 ( WAY more than the houses are worth)Last time i asked this question 100% of the answers missed the point. so to avoid that this time around...the house is fine, the house is built with in 5 yrs the houses all have 3 or 4 bedrooms the houses have nothing wrong with them. i know i need to get an inspection, isnt that required anyways? i know phoenix is a waste land thats why im not moving there. San Diego,CA | Aug 25th 2011
by eric.m_...
Answer


by Rich Ia...

The truth is that many lenders won't do loans under 50k because they don't make much money on interest over the life of the loan. If you do find a lender willing to go under 50k, don't expect the rate to be as low as if you had a 300k loan either. Good luck.

Aug 26th 2011
0
0

  • Question
  • Recent Questions

Ask a Question

Get this widget
Get this widget
Copyright © 2012 Lender411.com. All rights reserved. Subscribe to our news feed.
Company Info
  • Home
  • About Lender411.com
  • Contact Us
  • Press
  • Site Map
For Consumers
  • Today's Mortgage Rates
  • Current Refinance Rates
  • Popular Loan Programs
  • No Closing Cost Refinance
  • HARP 2 Refinance Program
  • HARP 2.0 Eligibility Guidelines
For Professionals
  • Advertising
  • Mortgage Marketing
  • Mortgage Leads
  • Mortgage Calculators
  • Mortgage Blog
  • Free Mortgage Content
  • Mortgage Widgets
  • door_in Login | Register
Legal
  • Privacy Policy
  • Terms of Use