Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Home loans under $50,000

Posted on: 02nd Sep, 2008 10:44 am
With the plummeting cost of homes in Michigan, why can't I find any lender who deal in loans under $50,000?
Hi jenmurakami,

What's your property value? and how are your credit score and income? Did you pre-qualify with a few lenders? you need to ask the lenders as to why they aren't ready to offer you loans worth less than $50,000. May be it's because of your credit profile or property value that lenders aren't interested to provide loans under $50,000.

Thanks

Thanks
Posted on: 02nd Sep, 2008 11:36 pm
i find it hard to understand you'd not be able to find a lender to help you. i know that our lending guidelines would allow such a loan.

there are lenders all around the country that are nationwide in scope who would be willing, i imagine, to grant a loan to you below that $50K threshhold.
Posted on: 05th Sep, 2008 10:12 am
George haven't heard from you. please reply
Posted on: 14th May, 2009 09:24 pm
i apologize, martha. it's been an extremely busy week. i will get back to you this afternoon.
Posted on: 15th May, 2009 09:16 am
I AM HAVING A PROBLEM FINDING A LENDER THAT WILL LEND UNDER $50,000 IN NORTH CAROLINA. ANY SUGGESTIONS?
Posted on: 09th Mar, 2010 08:53 am
Hi MS,

If your credit is good and if you have sufficient income to afford the monthly payments, you should be able to get a loan under $50k. There are lenders in this community. You can go for a no-obligation free mortgage consultation with them and check out if any of them can offer you a loan of less than $50k. In case they do, they will check your credit, income and other required factors and will let you know if you qualify for the loan.
Posted on: 09th Mar, 2010 11:28 pm
I have recently found that most lenders won't issue a loan for anything under 80,000 because of the percentage that they earn. It's not enough money for them to pay for their employees and the paperwork. I've been told that you need to find an investor not a mortgage broker. Working on that part myself. Good luck to you.
Posted on: 20th Mar, 2010 11:59 am
As George said earlier, you should be able to find someone. My guidelines as well allow for a 50K loan. Do your research. You'll find a lender soon.
Posted on: 22nd Mar, 2010 02:29 pm
Posted on: 23rd Feb, 2011 11:44 am
Its crazy. They are willing to make me a loan of 500K that I can t pay backeven with 2 jobs. But they will not make me a loan of 50K That i could pay back even if I lost my Job. Now I can take a personal loan at 3 time the rate.
Posted on: 04th Mar, 2011 12:31 pm
Hi Charlie,

It is difficult to get a under 50k mortgage. Lenders are, generally, not ready to offer you a loan of such a small amount.

Take care.
Posted on: 07th Mar, 2011 01:09 am
I need to find refinancing for a small amount. My credit is poor but I have two years of spotless payments and utilities. Is there anyone in Florida to help?
Posted on: 04th Jul, 2012 04:25 pm
Hi david,

Though you have spotless payment history for the past 2 years, you have a poor credit. With a poor credit, it won't be possible for you to qualify for refinancing. You will have to improve your score and then apply for a loan. You can check out the given page in order to know some steps to improve your score: http://www.mortgagefit.com/credit-rating/credit-repair.html .

Thanks
Posted on: 04th Jul, 2012 11:09 pm
Page loaded in 0.257 seconds.