FHA loan

The FHA does not have minimums but the lenders do. FHA does not issue the loan they only insure it.

The first question to ask in this situation is whether or not the condo is FHA approved. If it is then you need to find a local lender who will go below 50k on a loan. click the "find a lender" tab and call down the list to find someone willing to go that low. Before that, I would try the bank that you hold your savings and checking accounts with. Best Of Luck!

FHA does not have a minimum, however the lenders do... the problem is that the government has made it near impossible for a mortgage broker to help you with this transaction since they limit how much you can be charged to originate your loan. 5% of $30K is $1500.. since the $1500 won't cover processing and underwriting, the broker would lose money to do a loan that small. The local bank however is not bound by these laws... so they can charge enough to make the loan worthwhile.. 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

most lenders have a mim of $50.000

Try a local small bank or local credit union. They will most likely be able to help you.

Yeah, I don't have an outlet for $30k bigmel, sorry. Try First Citizens or maybe BB&T and see if they will help you.

The issue for many lenders is the size of the loan vs. the standard fees that are charged. Good suggestions here for other lenders. The cost of doing your loan makes it look like they are charging excessive fees because they charge the same fees regardless whether it is a $30,000 loan or $300,000. Also most loan officers are 100% commission, smaller loans are less desirable. I don't think Wells Fargo or SunTrust have minimum loan amounts and they have a minimum they pay their loan officers per loan to make smaller loans more desirable. Expect to pay a higher rate for a very small loan, under $50,000 and even under $100,000 probably will have a slightly higher rate.

FHA does not have a minimum, but most lenders have a $50,000 minimum. Below that amount, due to federal regulations, it makes it very difficult for lenders to cover our actual costs, let alone make any profit.

FHA does not have a minimum loan amount as they do not issue the loan, they insure it. Most lenders have a minimum loan amount of 50K or higher. Your local bank, or credit union who you have your checking and savings with may be able to assist you.