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Profile picture for MattDET

A 20k mortgage?

Is it actually possible to get a $20k mortgage?

I found an investment property in Detroit that needs a few thousand worth of work, but having just paid cash for an investment property several weeks ago, I do not have the cash to buy it at this time.

Therefore, are there actually lenders out there who would do such a deal? If so, can anyone make a few suggestions?
  • May 26 2012 - Detroit
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Answers (1)

Profile picture for ABBAUSA

20K Mortgage usually come from Banks or Credit Unions. Most mortgage lenders have like a 50K minimum.
If you have some paid for properties you might be able to use that to secure a loan from a local bank.

Good Luck!

James Callas - Realtor®

  • May 26 2012
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