How to get 30 yr mortgage for under $50,000?
7 Replies
Bryant Stokes
posted 20 days ago
I am trying to find 30 yr loan for less than 75k and have not had any success. Plz advise. Thanks in advance.
Andrew Postell
Lender from Fort Worth, TX
replied 19 days ago
@Bryant Stokes what state are you investing in?
Bryant Stokes
replied 18 days ago
South Carolina
John Hovanec
Flipper/Rehabber from Piedmont, SC
replied 18 days ago
@Bryant Stokes have you talked to any of your local credit unions?
Bryant Stokes
replied 18 days ago
I have not.
Brian Goff
from Columbia, South Carolina
replied 17 days ago
Palmetto Citizens FCU will do 20yr for low balance investment properties. Only caveat is they’re commercial vs personal.
Troy Gandee
Real Estate Broker from Charleston, SC
replied 16 days ago
@Bryant Stokes I've had one that was around 45k when initiated for many years. I'm actually refinancing it now, but it was a conventional loan. For that low of a balance, you'll probably have to get a traditional mortgage. The rate may be a little high for a smaller balance. Most HMLs won't below 100k these days.
Andrew Postell
Lender from Fort Worth, TX
replied 14 days ago
@Bryant Stokes very sorry here. I almost missed your response. If you know how to use the @ to tag someone that will give us notifications but I do know 1 lender in SC that will lend that low. PM me and I'll share. Thanks!