Profile picture for user8243353

Does anyone make mortgage loans for 50K or under? loan request ZR-TRSYRZK

I am not exactly sure what my credit rating is right now.  My income was reduced several years ago and I tried many times to modify, refi, etc.  Each time the bank offered no assistance or solution.  I recently sold my house and was hoping to pay cash with the equity I had built up, however, I am finding it impossible to find a home in the area I need to be in for the amount of cash I have on hand.  The houses in good shape are all in the $180-190K range and anything under that price needs so much work that I would probably end up with a similar investment after paying $130-$140k cash.  Only about 1 house per month comes on the market that is even a possibility for me unless I can go up in price range.

My credit will slowly rebound now that I have almost no debt.  I was never more than 60 days behind on my mortgage and all my bills are current now.

I understand why lender's don't want to deal with small mortgages, but does anyone approve these?  Any suggestions would be appreciated.
  • September 25 2012 - Pawleys Island
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Answers (1)

Profile picture for wetdawgs
Lenders on internet sites rarely quote for loans <$100k (or perhaps $75k).   You may wish to talk with your local lenders including credit union(s)
  • September 25 2012
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