Posted on: 01st Dec, 2010 05:54 pm
Hi. My fiance and i want to buy a house in Kokomo, IN and have found several nice ones for under 30,000. However we are having trouble finding a mortgage for that low of an amount. A rep we spoke to at my bank said that if I knew somebody who could buy it for us, they could sell it to us under contract and we could repay them. I do have a relative who would be capable of doing this, however I would rather not ask unless absoutely necessary. Is there any other way to get the financing for such a low amount?
Thanks!
Thanks!
Hi elizabeth!
Welcome to forums!
Most lenders would not allow a loan for such a small amount. If you have a relative who can carry out the transaction for you, then you can contact him or her regarding this. However, if you wish you can contact the lenders who offer personal property loans and check out if they can help you in this case.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Most lenders would not allow a loan for such a small amount. If you have a relative who can carry out the transaction for you, then you can contact him or her regarding this. However, if you wish you can contact the lenders who offer personal property loans and check out if they can help you in this case.
Feel free to ask if you've further queries.
Sussane