First Time Property Buyer - Advice Needed

[Jamie Ramsey]

I am trying buy my first property (duplex). I have talked to 4 banks and Quicken (Rocket Mortgage).  I have great credit, I have the 20% however I have been told the loan is too small so keep getting turn me down for financing.  Per the banks after 20% the loan has to still be more than 75,000.

Can someone please provide some guidance on how they handled this issue?

I don't want to buy a more expensive property just to get a loan.

Thank you!

[Neil Henderson]

Talk to smaller local banks. Search for banks in your area and look for the ones with the smallest number of branches. Call up their loan departments and talk to them about what you're trying to do.

Might be a tough road. Most banks will not loan on properties valued at less than $50,000.