Is there a minimum home price banks will lend on or age?

[Account Closed]

Looking at an early 1900's duplex that is currently rented with good cash on cash numbers but is in an economy neighborhood and less than $50,000.  Will the bank even consider lending on such a low price property?  Newbies looking for insight.

[Anthony Dooley]

Traditional lending guidelines are $50,000 minimum. Offer $50,000 and ask the seller to pay closing costs and possibly a repair allowance. Otherwise, use a HELOC on your home to finance it, use cash, or a personal loan that you pay off very quickly like a car loan.