Exploring Financing Options for a $50k Investment Property with a 20% Down Payment

[Rereloluwa Fatunmbi]

I'm exploring the possibility of acquiring an investment property worth $50,000, specifically a single-family home, in the Akron/Canton, OH area. Ideally, I'd like to make a down payment of 20% to 25%. However, I've encountered an obstacle: my lender has informed me that banks typically do not provide FHA or conventional loans for amounts less than $75,000. Given this constraint, I'm seeking advice on the most viable financing options that would allow me to secure this property without having to increase my down payment beyond 25%.

[Dawn P.]

Try some local credit unions in your area - I've gotten a $38,000 portfolio loan at my credit union. It can be done, keep calling!