I am trying to purchase a second home for $34,900. It is a short sale. What is the right direction for financing?

Depends on your credit score.

Your best bet is to contact a local bank in the area the home is in.. Because of the low loan amount, most brokers cannot do the loan.. Current laws restrict how much a broker can charge to do a loan. Currently it's 5%, which if you finance $30K, would be $1500 in total loan costs. If processing is $650, and underwriting is $850, then the broker makes ZERO $$ to do your loan.. Keep in mind that this restriction is only against the broker, not the bank.. so the bank can charge you enough to make a profit... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

More than likely you will be flagged and must do it as a investment property. One exception is that if it is a Lake House or Beach House. Would need more information to give you an accurate assessment. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

This would depend on your entire profile. You should have someone do a complete application on you.

I would also recommend a local credit union or bank.