Where can I get financing under $50k in Metro Detroit?

Asked by Tefe, Detroit, MI Sat Oct 13, 2012

I am looking to begin the home buying process but the homes I am looking at are in the 25-40k range. I know many banks want home loans of at least $50k. Where can I get a mortgage for my price range? Anyone know of any companies specifically or where to begin looking for companies like this? Credit unions maybe? Any specific help is greatly appreciated.

Thank You

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Haig Istambo…, Agent, Rochester, MI
Sat Oct 13, 2012

I have had a few loans under $50,000.00 done by Flagstar Bank and also John Adams. I would try either one of those first, they are both great to work with.

I hope this helps and Good Luck.

Elias Realty
(248) 379-6547
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Eric Michael, Agent, Northville, MI
Sat Oct 13, 2012

I would start with talking to the real estate agent you're working with. If they can't answer that, and I don't know why they wouldn't be able to, I'd go to a credit union.
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