Mortgages for $50K and under?

[Owen Dashner]

Are there any lenders out there that will underwrite loans for properties under $50K?

I found a fixer at $15K that I am thinking about buying, but I am concerned about exit strategies... ARV on the house is around $50K, but I'm wondering if potential buyers would even be able to get a mortgage for that amount... It would also be a good little long-term rental, but I would need to cash out my private lender and would likely run into snags when attempting a cash out refi (obviously).

My understanding is that lenders typically have thresholds ($50K, 75K, 100K, etc.) that they will not normally go below. This is a starter house, so my end buyer would likely be a first-time home buyer. I'd like to get some thoughts/experiences on this.

Thanks in advance!