Finding a lender who will lend under 50k

[Anatole Doak]

Hi,

Need some advice - I've found a good deal in Philadelphia.  Purchase price is 55k and the house is in very good shape, currently rented.   Looking for a conventional loan that will loan me 45k, every mortgage broker who I've talked with already has a cut off at around 60k.  

Does anyone know any bank/broker who would lend that amount in a conventional loan the greater Philly area or have alternative suggestions? I know private money is an option, but haven't looked into it yet. Thinking would be more expensive so I would rather find a conventional loan.  Seller financing also isn't an option with the owner.

Thanks,

Anatole

[Richard Sherman]

@Anatole Doak your best bet is local and regional banks and local credit unions.  I would start there for small balance loans like this.