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i need to get a loan for 12,000.oo, my home is valued at 75000,oo. credit rate 685

by mark.r_554_164 from Polk City, Florida. Mar 19th 2013 Reply


A BBB (ABBB123)
#73 ranked lender in Georgia - 4 contributions

Unfortunately, I think you will find that most lenders minimum loan amounts will be $50,000 - $30,000 it is very hard to comply with all the regulations on smaller loans below these values. I think you best bet would be to go to a local bank and get a HELOC.

Mar 19th 2013
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Charlie Sparks (CharlieSparks)
#9 ranked lender in New Mexico - 398 contributions

MSchwartz is correct. A HELOC from a local credit union or bank is the way to go for such a small loan amount. If you are over 62 a reverse mortgage could be an option. I would at least look at it so you will know for sure.

Mar 19th 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

It sounds like a Heloc is the way to go for you!Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

Mar 19th 2013
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Manuel Gonzalez (mmortgage1)
#91 ranked lender in New Jersey - 90 contributions

Hi Mark, there is a small local federal credit unions you can apply with, just simply google search Federal Credit Union in your county and you should find them. Another option is what the others mentioned which is to get a Home Equity Line of Credit.

Mar 19th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

We arrange small first mortgages in Florida. Dave Metsker, 503-620-2239

Mar 19th 2013
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George Dokos (georgedokos@movementmortgage)
#57 ranked lender in Virginia - 25 contributions

Based on the loan size, your best bet would be a local credit union.

Mar 19th 2013
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Abdi Mohammadian (mohammadian)
#861 ranked lender in California - 33 contributions

You can go to local Credit union.

Mar 19th 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

The loan is too small Mark. You need a signature line of credit possibly. Not even hard money will touch a loan amount that small. I'm in florida so trust me I know - Andrew

Mar 19th 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

Best to try a local credit union

Mar 19th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,944 contributions

Most lenders have a minimum loan amount of about $50,000. For a loan that small, I suggest talking to your local credit union.

Mar 19th 2013
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