Can anyone refer a lender for an investor loan below $50,000

[Matt SF]

Greetings all.

It would appear that getting a < $50,000 loan in the days after the credit bubble is near impossible.

Can anyone here refer me to a lender who is willing to do an investor loan for a distressed property sale that's below the 50k threshold?

(Would prefer a 15 year loan if possible.)

The property needs a little work, so if they know a bit about the 203k/rehab/reno loan process, that would kill two birds w/ one stone.

Thanks in advance.

[Oliver Trojahn]

Matt,

Note sure what market you are in but I just purchased a rental property last year for $38,000 with conventional financing. I used a mortgage broker and my loan ended up with Citi Group. The pre-approval started at 60k, however, we ended up picking the place up for much less. This year we are pre-approved yet again for a 60,000 loan. This time we are using a local bank that will sell this loan to freddie and fannie after they sell it to us. In short, I know BofA wont go that low anymore but many big banks will loan to that amount, Citi being one of them.