Financing Deals under 50K

[Jeremy G.]

I am looking for advice on approaching lenders that will finance deals under $50K in Louisiana? I am willing to due a 5-10 year loan term with up to 30 % down. Can anyone lead me in the right direction or have recommendations on how to get these deals done?

[Joe Impagliazzo]

@Jeremy G. 

The issue with loans under $50k is staying below high cost limit laws.  Many fixed attorney fee's and lender fee's that are not based off the loan size cause the loan to be considered high cost.  Normally, fee's can't exceed 5% of the loan size.  If you can find a cheap title company, you should be fine.  Once under $30k it becomes pretty tough though.