Low amount mortgage

[brperkins2]

Where can I get a mortgage under 50K in Columbus, OH? I see properties I like are between $35K to $45K.

[Hal Roach]

Originally Posted by brperkins2

Where can I get a mortgage under 50K in Columbus, OH? I see properties I like are between $35K to $45K.

I used a broker, then got one from some outfit in California for 28,500....house cost 47,500..it was then purchased by IndyMac, who offered to refinance it many times. Oddly, my broker routinely used LendingTree...good question, because it is tricky. Great deals in OH..I was interested in Dayton. Let us know, please.

[marino760]

I may be having this same issue but my plan is to visit local banks, not the big national ones, and see what they offer. Also, check out local credit unions. If a substantial amount of homes are priced around 50,000 or a little more or less, there must be someone giving loans for those homes. I doubt people are paying cash other than having a down payment.
Also, if you use a realtor, they should be able to steer you in the right direction since they probably come across this all the time.

[luv4horses]

You might not need a mortgage. Local banks sometimes offer loans that work like a mortgage but they keep them in house. Some people call these a bank note. The property just needs to be a good buy and you need to be a low risk individual.