Portfolio loans on cheap (50-80k) houses?

[Gary Dezoysa]

Hi everyone,

I've spoken with several lenders and my picture is no good for conventional or bank statement financing for a while. I wanted to ask about portolio loans, specifically whether they are a possibility for cheap houses. My target market is Toledo where B/C properties can be found in the 50-120k range and I was hoping to target the lower end of that range. But I read this:

Are there any lenders who will do portfolio loans on 50-80k houses? Or will I have to move up my purchase price target to 100-120k in order to obtain this type of financing?