Help Finding Conventional Lender for Small Mortgage?

[Alfred Litton]

Help! I need to find a conventional lender who will loan at 80% LTV for as little as $56k. Is there anyone out there who lends on that small a scale? Thanks!

[Chris Mason]

Hi Alfred,

Find the cheapest listings in that zip code, call listing agent, say you want to write an offer but your lender doesn't go that low, ask for a referral. 

Those baby loans are basically non-profit, so no one advertises it. You gotta work the relationship angle, and realtors always have relationships with lenders. That listing agent on the $40k home doesn't get a commission check UNLESS she knows a lender who lends that low who is local to the area.