Getting a Loan for a Rental at 50,000 and Below
I found a Single family house I want to purchase. I am in Columbus Ohio and I want to purchase to rent it out. Has anyone run into getting financing for properties under 50,000. I must put 15% down which takes the loan to low to get a 30 year mortgage. Am I missing something here? Is this a Federal guidline or is this Specific to the lender I am trying to use.