Conventional loans in louisville,ky

[Wes Singleton]

I made my first offer on a property today for the purchase price of $41,500. I thought that I had my lender in place, but I just found out that he will not give a loan less than $50,000, and he says that is standard practice. Wish I would have known this before making the offer, but I guess this is one of those things you learn through experience. Does anybody know of any lenders who will finance (at normal Interest rates) for a loan under 50k on a SFR rental property? I could pay cash, but I would want to refinance immediately and would run into the same issue. I don't want to tie up all my cash on my first property.