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will lenders finance a loan that is 20-30k?

i hear it makes me "undesirable" as a borrower by leedollym0841660 from Florissant, Missouri. Mar 27th 2014 Reply


Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions

If possible, you can go for a HELOC. Like the other answer, check a local bank or credit union. Good luck!

Mar 27th 2014
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David Drakeford (david_drakeford)
#0 ranked lender in California - 63 contributions

Most will not. I would look into getting a heloc with you local bank. That would be the cheapest route.

Mar 27th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

I agree with the other answers, as long as you have good credit I would try a local bank. Good luck!

Mar 27th 2014
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

i do have a program that i can refer to you for starting a cash line advance at 20,000.. email at merchantsonthego@outlook.com linda

Mar 27th 2014
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ok thank you all

Mar 28th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

More than likely, a $20K-$30K home will not pass appraisal inspections, and even if they did, the loan amount is below what most lenders will accept.. It's hard to make any money on a $30K loan, since current laws say you cannot be charged more than 5% of the loan amount, which would be $1000 to $1500.. and those amounts don't even pay for processing and underwriting for a loan.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 28th 2014
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Most lenders require $50,000 or more. Smaller loans are not profitable. One option is FHA, but you will have to find a lender who will do it "free". If you have excellent credit, a local bank may help you.

Mar 27th 2014
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