Mortgage originators for lower cost properties

[Jeff Piscioniere]

Happy Mother's Day weekend BiggerPockets family! My partner and I are looking to get our plans underway on buy and hold rental properties and I think a concern is going to be on lenders who have a minimum loan amount. We both spoke with a national lender who is advertised to be very investor friendly and in fact run by a REI investor themselves. When we received the pre-qual package we were disappointed to read a minimum loan of $75,000.

My partner and I are open to investing in different markets of the country but our goal is to stay home in our neck of the woods of Connecticut. I know some of you may have just wrinkled your nose and said what in the world can you get for under $100k in CT anyway, but it might surprise some to hear that there are some pretty good markets in CT to do that, and do that in pretty much move in condition.

So our goal was to find single family homes putting down 15% so with the $75k parameter means a property at least $100k. This significantly makes it difficult to make the numbers work.

Wondering if anyone knows of either local CT lenders or a national lender who operates in CT who might help

In lending for lower loan amounts. With lower loan amounts we are talking properties priced in the $70k-$95k range. So we are really on the cusp of making our numbers work.

Any suggestions would be appreciated. Thank you all in advance!!!