bank loans fo 50k and under?

[Mike Slusher]

Im looking at a Rental for 40k and I am going to put 20% down. Some mortgage brokers are telling me that the banks will not even take the loan because the loan amount is to little, so their fees will be too small. Im being told that I should pay all cash for anything under 60k or so.

Is that true??

[Tami R.]

I went to a local bank, got a commercial loan for a "Cheap" house + improvement loans total $20k interest 7.34% fixed - 15 years.