Mortgage Lenders under 60K.

[Jason Morris]

Hello everybody. I'm interested in purchasing investment property in the Philadelphia area, but am having trouble locating lenders who will lend as low as 60K. I've been Googling Philadelphia local banks and credit unions throughout the day. So far, one replied that they go as low as 75K. Another said 80K. Does anybody know any lenders with minimum loans between 50K - 60K?

[Joe P.]

Try Key Bank. They have options I think. You may also want to consider a HML. It costs banks money to create mortgages so they want enough skin in the game. 60k might not be enough.