Conventional loans for properties under $50k?

[Mike Tremblay]

So I bought a duplex (just one side) for about $44k including repairs and closing costs and all using my HELOC. My plan was to refinance it with a conventional type of loan and use my HELOC to buy more. But almost all of the banks/credit unions I've talked to won't do a loan for such a small amount. The best deal I've found is 5.5% for 5 yrs fixed amortized over 15 years and the rate adjusts every 5 yrs. Is that the best type of deal I'm going to get? Or am I just calling the wrong places? I have an excellent credit rating.