Profile picture for tysfort

the rich get loans

I just need the help...but to ask for a loan that is below a certain amount gets tossed.
I always heard that the ones that had lots got loans, and the ones that really needed them didn't.  Seems to be proving right.
  • March 22 2010 - Morrisville
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Answers (7)

Lower loan amounts are denied because of legislation that NC has passed. Lenders want to serve low loan amounts. Feel free to register a complaint with any local politician and the NC Commisioner of Banks.

  • March 22 2010
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Profile picture for SheriMoritz
It depends on the amount of the loan you are looking to get.  Yes, it is true that it is hard to get a smaller loan but also true that it is hard to find a home that is priced less than the low end loans.  What are you looking to do?  Do you have a lot you are trying to get a construction loan on?
  • March 22 2010
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Profile picture for Sharon Lewis
Hopefully by now you have spoken to a loan officer and worked out your credit to the point where you are ready to buy a home. Everyone can get loans, they need good credit though. A stable job and a number of other criteria. And when you do go to purchase a home, do not also start buying furniture etc before the home has closed. :) yes lower loans are challenging. You can go the private route and get a loan that way through a number of organizations too.
  • September 25 2011
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Profile picture for sunnyview
This thread from 2010 seems so long ago.
  • September 25 2011
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Profile picture for Sharon Lewis
This thread should be closed.
  • September 25 2011
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Profile picture for sunnyview
Yes I agree. Let's both keep posting on an old thread from 2010 until Zillow closes it.
  • September 25 2011
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Profile picture for wetdawgs
I prefer threads from 2007..  but 2010 was a good year, at least in March.
  • September 25 2011
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