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How to Get a Small Dollar Mortgage Loan

Buying a house is a straightforward process, right? You line up a lender, you find the right house and you get a mortgage to buy it. While this is the case in much of the country, there are plenty of regions where the home prices are too low for traditional home loans. How can a loan be “too small?” And where can buyers find alternate funding options? Small Dollar Mortgages Defined Most home loans under $100,000 are considered to be small dollar mortgages. In 2019, less than 10% of all U.S. single-family or condominium home purchases were for $100,000 or less. That’s a ...

October 7th, 2020 | First-time Homebuyers, Purchasing a Home, How to Get a Small Dollar Mortgage Loan