Profile picture for tom goad

Where can I get a loan for 9,000 to buy a house ?

Dear Sirs, I found a house that I like for 17,900. I plan to offer 15,000 and put down 40% ( 6,000). Where can I get a mortgage for the rest ?

kef101@hotmail.com
                                                                 Karl F
  • November 23 2013 - Terre Haute
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Answers (17)

Profile picture for missyknightly02
You can call [removed by Zillow Moderator] if you want to get a loan.
  • February 27
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  • February 07
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  • February 06
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  • February 06
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Profile picture for janettbcook
You and try independent lenders so as investors and or hard money lenders.  Most lending institutes require a loan to be at least 50k. 
  • February 05
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  • February 05
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Most lenders have a minimum loan amount of $50,000. So it will be very unlikely that you will find a mortgage for $9,000. Well I hope this helps and good luck! 
  • November 25 2013
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Hi Tom,

You'll have a hard time finding a traditional bank to make a $9000 mortgage loan.  Have you considered P2P lending, such as Prosper - http://www.prosper.com ?  Good luck!
  • November 24 2013
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Profile picture for JoshBarnettREIB
Ask the back for a line of credit.  
  • November 24 2013
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Profile picture for cnrtool1
Can you put it on your visa card?
  • November 24 2013
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You need $9000 to buy a house? I don't think a bank will lend you such a small amount. By the way. Where did you find a house for $17,900?  It costs more in wood and appliances than that in any house.
  • November 23 2013
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Profile picture for tom goad
Interesting Jesse.  Thanks
  • November 23 2013
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Profile picture for Jesse Storm
You could look at doing a hard money loan. This will carry a hefty % rate. with almost 2k in closing cost to boot. or  You could look into taking a loan out on a car that you have paid off or close to being paid off that might have that kind of equity in it. This is a cheap way of doing it. You could take an equity line of credit out on a current home you own. You could asked seller to hold the 9k loan for 90 days and then get a loan from the bank on the subject property once you own it. You could do private financing with a local person that does this in your area. As every one said a personal loan may be what you also could use. or Apply for a 0% credit card for 1 yr and put it on that. If you don't get the money to repay it all prior to the end of the year open a new card with a 0% interest and roll the money over to the new card and keep paying. I used credit cards like that when I first started flipping homes. for more info stop by http://stormteamrealestate.com
  • November 23 2013
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Profile picture for tom goad
Yes, I have two Banks here ( In Illinois ) looking into it.  I need to contact ones in Indiana. I may have to get into my savings to buy it. I hate doing that.
  • November 23 2013
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I would get a personal loan from your local bank with the best rate. Usually Credit Unions are the best.  Good Luck! 
  • November 23 2013
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Profile picture for tom goad
Thanks for your feedback.  Yes, I have looked into that too. Right now I can't seem to to get all of the 9K for the closing . I'm still looking & trying. I hate to use my credit cards for the difference. Rates are sky high.
                                                                                              Best Wishes,
                                                                                                     Karl
  • November 23 2013
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You may need a personal loan instead of a mortgage.  Talk to a few lenders and see what they advise.
  • November 23 2013
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