Any local banks in Montgomery, Alabama that give smaller loans?

Question

Does anyone know of any local banks/credit unions in Montgomery, Alabama that loan on residential properties for less than $50k?

Greg Parker · Answer

I use max FCU but 50 is their minimum.

Matt Everling · Answer

I followed up with Wells Fargo and they do in fact lend for purchases and cash out refis for less than $50k min funded loan amount! Thanks @Cristian Ramos!

Momi Rapozo · Answer

@Matt Everling I’ve recently been preapproved with First Bank in Madison county. Really interesting how most lenders don’t offer loans in AL. Banklocal.info there’s hope credit union, max credit union.

Cristian Ramos · Answer

If it doesn’t have to be a local bank, I’d take a look at Wells Fargo. They offer loans below $50k, but be prepared to pay a higher interest rate

Matt Everling · Answer

Thanks @Momi Rapozo! I will check into your advice.

Matt Everling · Answer

Thanks for you help @Greg Parker and @Matt Bell! Much appreciated.

Matt Everling · Answer

Thanks @Cristian Ramos! I will follow up on your advice.

Matt Bell · Answer

@Matt Everling some banks will be less if you have multiple bundled together to get the aggregate loan higher.

Matt Everling · Answer

@Greg Parker Thanks Greg! Do you happen to know of any lenders specifically?

Greg Parker · Answer

50 seems to be the minimum as far as I know.

Any local banks in Montgomery, Alabama that give smaller loans?

Any local banks in Montgomery, Alabama that give smaller loans?

Investor-friendly agents in Montgomery, AL

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