I would like to buy my first home. I am finding homes for under 50,000 but I am told I can't get a loan under 50,000. Why is that?

Asked by Lamontia White, Warrensville Heights, OH Fri Sep 6, 2013

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Marge Bennett, Agent, Fort Myers, FL
Fri Sep 6, 2013
Bank of America or PNC lend for lower amounts
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Cecilia Sher…, Agent, Rocky River, OH
Fri Sep 6, 2013
Depends on what lender and loan you qualify or don't qualify for. Many lenders won't lend below a certain point.

I would be happy to help you and get you connected with a great lender that I work with.

Do you know if you're going FHA or conventional? Some homes under $50k will need POS work or FHA repairs, etc.

You will need your entire situation looked at to see what is the best route to take.

I'm always here if you need assistance or have any questions.

Cecilia Sherrard
RE/MAX NE Ohio
216-323-4620
http://www.YouShouldOwn.com
Web Reference:  http://www.YouShouldOwn.com
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