can i be approved for loan of 15k w credit score of 590 property appraised @ 64k

Most lenders have a $50k min and a min FICO score of 620

My suggestion is fine a local credit union in your area. They should be able to help you.

You didn't indicate if you are looking for a 1st or 2nd mortgage. On a first mortgage a 590 score doesn't automatically disqualify you with me but there would be a min loan amount of at least $50,000. (This is not an offer to extend credit or a commitment to lend.)

Like the others have mentioned, What are you trying to achieve?

It might be best to work with your local bank or credit union for a loan of this size. The other lenders are correct, the minimum loan amount for conforming loans is generally $50,000.

As noted, it may be difficult to find a Lender or Investor to meet the low loan amount size. I believe the minimum loan amount I may have available is $40K. As a 2nd position loan, you would likely have extreme difficulty with that 590 Fico score. As a 1st position loan, your best option is to first discuss your options with the local credit union as they often can review and assess your challenges and strengths through the Board Members. Often I meet clients with rough credit that may be due to past challenges over time. I highly suggest that you invevst in credit repair to gain momentum and improve your scores. I know there can be horror stories, but I can account for great service I have received for my personal clients through ECredit Advisor at www.ecreditdvisor.com. I feel this first step would be well worth the evaluation at no cost to you.Janine Bodway - jbodway@acceptancecapital.com

Hard money loans can be an option for you but we're not sure what your intention is.. If your purchasing a home for $15K, but it's worth $64K, then it's going to be hard to find a lender willing to lend you on this type of loan.. Current laws limit the amount banks can charged to originate a loan, and it's based on a percentage of the loan amount.. Usually 5%.. So 5% of $15K is =$750... The processing for most loans runs $1000, so the lender loses money to do such a small loan.. For that reason, most lenders have a minimum loan amount.. if you already own the home, and it's paid for, then you might be able to find a hard money lender who is willing to do the loan, but it's going to be expensive... 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