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Need a smaller mortgage loan

I am looking for a house in the $50-$70k range with $10k-15k. My credit score is around 670. Can anyone help me? by kellis12541 from Memphis, Tennessee. Aug 22nd 2017 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,553 contributions

Small home loans, typically less than $60k - $70k are generally difficult for non-bank lenders and brokers due to not well thought out government rules. For these small loans, I generally suggest contacting your small neighborhood community bank or credit union.

Aug 22nd 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,000 contributions

As Joe said.. The best advice I can give you is to contact a local community bank or credit union and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Aug 22nd 2017
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Will this be a investment property?

Aug 24th 2017
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