Is a 55,000 dollar mortgage possible?

[Rick Baimbridge]

I recently applied for a $55,000 mortgage with multiple big name banks and was informed that they don't write mortgages for that amount. Is it possible to get approved for such a low mortgage or will the points always be too high if credit scores are below 740? Credit scores are 727 and 700 and gross monthly income is $17,500... Should I keep looking around or is it a lost cause? The investment property is in Florida.

[Imad M.]

BB&T gave me a mortgage for $37k. Trustmark was $39k. There are plenty if you can avoid the big banks. Interest rates were very low as well.