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mortgage less than 50

by edmatteson49 from , California. Dec 7th 2014 Reply


Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,250 contributions

I am assuming you are asking about a mortgage loan under the $50,000 , lending standards are not allowing.. but I do have a business line of credit or a personal cash line advance, it all depends on your fico score.. email at merchantsonthego@outlook.com linda

Dec 8th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Loans less than $50,000 can be problematic because of government rules that cap lenders fees and closing costs as a percentage of the loan amount. A great example is an appraisal. In my area (Minneapolis, St Paul), regardless if you are getting a $400,000 loan, or a $40,000 loan, the appraisal is still going to be about $400. A a percentage of the big loan, it is nothing to be concerned about, but on the small loan, the appraisal itself is 1%.

Dec 8th 2014
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Mark Wilkins (mwilkins)
#11 ranked lender in Pennsylvania - 7 contributions

These mortgages can be done but are more difficult because of high cost. As long as the lender fees are under 5% and this is a full documented loan you should be ok.

Dec 8th 2014
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Loans under $100K are difficult to do.. loans under $50K near impossible. A community bank / credit union is most likely your best option.. .. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 8th 2014
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