Financing in Lafayette>Question Details

T, Home Buyer in Tippecanoe County, IN

I am having trouble finding a mortgage for under 40k in Lafayette, IN. It's a tiny HUD home, but move-in ready. Where can I find a smaller?

Asked by T, Tippecanoe County, IN Mon Jul 25, 2011


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I would refer you to Alyson VanPelt at Allied Mortgage. Her number is 532-4065 and you can tell her I referred you. I work with her alot and she is great! Good luck and if you need anything else, you can call me at 765-427-1905. Kristy Miley Coldwell Banker Shook
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1 vote Thank Flag Link Mon Jul 25, 2011
Congratulations on finding one move-in ready for that price! The minimum loan amount is often $50,000, but I have found some lenders that will go lower ... It depends on if you are purchasing the home as an investment (aka Rental) or for your own private residence. If it is for investment, I would suggest 5th 3rd Bank, Lafayette Savings Bank, or another local lender. If it is for a primary residence, I would suggest Janene Vance at Wells Fargo 765-430-6392 or Chris Landis at 5th 3rd Bank 765-414-1748 ... (Provided as courtesy only).

If they cannot help, feel free to TEXT or call me at 765-418-9613 & I'd be glad to help you find another.
2 votes Thank Flag Link Mon Jul 25, 2011
Most lenders have a minimum loan amount of $50k to $75k. Your best bet is to try a small local bank or credit union.
0 votes Thank Flag Link Mon Jul 25, 2011
You may have to go to a mortgage Broker and look for Hard Money Lenders!
0 votes Thank Flag Link Mon Jul 25, 2011
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