I have a question. I have applied to two differnet direct loan companies and was denied. My score is low 620-630 range but was advised that this was not the reason I was denied. The prices of the homes I am looking into are under 75,000 some even $50,000. I was advised by the loan company that they wouldn't finance me because the loan amount is too low and that banks will not do a loan for under $100,000. Is this true? If so, what other options do I have?
Is a Loan Under $100,000 Possible?