With their cap space ever so limited, Knicks acting president Steve Mills still believes he can land a veteran point guard via trade, according to an NBA source.

While Ron Baker broke the bank on his free-agent contract, getting the entire room exception in a two-year, $9 million deal, the Knicks still believe a point guard mentor could help Frank Ntilikina.

Baker could wind up starting at point guard — a move that only makes sense through the prism that earning a low playoff seed is not the primary objective next season, that falling into the lottery for a bid at Michael Porter Jr. is acceptable.

The bigger goal is developing their young core of four: Kristaps Porzingis, Tim Hardaway Jr., Willy Hernangomez and Ntilikina.

The Knicks only have $1.5 million left in cap space to use on a free-agent point guard, but another device could help push them over the edge. The Knicks would be able to spend more than their cap space technically allows by using the veteran’s minimum exception — which is $2.3 million for players serving 10 seasons.

According to a source, the Knicks are among a multitude of teams that have inquired about 31-year-old Ramon Sessions, who played for the Hornets last season.

A source told The Post the Knicks inquired about Suns point guard Eric Bledsoe, whom Jeff Hornacek coached in Phoenix. Bledsoe is 27 with two years and $29 million left on his pact. The Knicks don’t have many trade chips except a future first-round pick and starting shooting guard Courtney Lee.

The Knicks no longer have the money for either Derrick Rose or Rajon Rondo. Another free-agent name the Knicks have researched is point guard Donald Sloan, who played in China last season. In his last NBA season, in 2015-16, the 28-year-old Sloan played 61 games for the Nets, starting 33 games, averaging seven points and shooting 38 percent from 3-point land.

But the Knicks still believe their best shot at a point guard is via trade.