How to find small mortgage lenders

Question

Does anyone have experience with financing a property less than 50k? It appears that many lenders will not make a mortgage less than that.

Travis Salley · Answer

@Eric Veronica Georgia/South Carolina

Caleb Heimsoth · Answer

@Travis Salley US bank has 35k minimum

Alexander Felice · Answer

financing under 50k is tough

local banks are the only option, and many of them won't do it as there just isn't enough interest income to warrant the money out for the bank.

how far below 50k are you looking for? 40k you may find something, anything under 40k and I think you should adjust strategy.

ask fellow investors in your town and spend a lot of time talking to local bankers.

Eric Veronica · Answer

I may have an option for you in SC but no one comes to mind in GA.  DM me if you want to connect.

Travis Salley · Answer

@Caleb Heimsoth thank you I’ll check them out!

Eric Veronica · Answer

@Travis Salley state?