Mortgage for 35k.
Hi, BP! I'm looking to get started on my real estate journey. I found a house with an arv of about $50,000. The house has been well maintained and appears to be a solid investment. Needs minimal work, no more than $5000. The seller is willing to accept $35000 for it. I have about $15,000 and about a 680 credit score, but, it seems that most banks do not offer mortgage loans for less than $50,000.
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@Rey Lopez. Call chemical bank. They have no loan minimums.
They lend every stats but NJ, TX, NY, and one other (can’t remember).
875 loan processing fee and appraisal fee. That’s it.