Financing Advice....

[Timothy OConnor]

I am looking to purchase my first investment property and was hoping for some insight or direction! 

Quick facts: 

Looking for a home in the range of 50-70k 

Down payment- 20-25%

Credit - 770 

I went through Quicken Loans to see what I could be pre-qualified for and they asked if I would be willing to look in the 100-120k range for a property. They said that the loan amount would be to small compared to the value of the home. Is this typical when searching for financing in this range? or should I be able to find a lender for this situation? 

Any advice would be greatly appreciated!