Forgive me if this is a stupid question, but I’ve looked all over online and can’t the specific answer. I know banks have minimum loan amounts they will do. Is that minimum the purchase price, or is it the actual debt amount? Let’s say the minimum is $50,000. I purchase a property for $60,000 with $15,000 down, putting my loan balance at $45,000. Would this loan meet the minimums, or would I need a $50,000 balance after the down payment?

$50,000 is the minimum loan amount.  If the bank required you to put 20% down, you would need a minimum purchase price of $62,500.  

It's usually referring to the actual loan amount, not the property price. 

Some banks has minimum loan policy but other cares if its not coming under high cost they still finance it. MB do takes loans under $50000.