Non-Traditional Loan Ohio

[Mellochick]

Does anyone know of any small banks or other options for a home loan? Looking at a loan amount of $60,000 tops. Have a low score but not much debt at all. Have a potential lender but have heard of other routes to go with smaller banks that don't even check credit. I have up to 20% down. Any ideas???

[ShanetheMortgageMan]

Lenders who don't check credit are usually hard money lenders - 30-40% down minimum, pretty unattractive interest rates & fees.  But credit usually doesn't matter, so they are a good option for people who can't qualify for a normal mortgage.

[Mellochick]

Do you know of any that would work with us in Ohio?? Since the loan we want isn't a huge amount, and with our low scores, banks are not wanting to take the risk for such a small loan.

[ShanetheMortgageMan]

I know BofA will do lower loan amounts, but I believe their minimum score is either 620 or 640.  I know of a loan officer in Cleveland that may be able to do your loan or know who can, I'll send you a PM with his info.

[EtereoX]

I also live in Ohio in a similar situation ... About to start the home buying process and would be interested in your LO referral if you don't mind?

[dthomas]

Would you mind pm'ing me the info also.  I'm in the same situation.   Thanks!