I am having trouble getting a Home loan for 30,000 even with 20% down & excellent credit any sugestions??

Banks are getting strict with there lending practices,Have you asked any of the lenders you are trying to deal with what the problem is?

What is the home worth ? Does the home meet loan requirements ?

But have you checked your credit to be sure something bad did not get on there for mistake or fraud

Yes the credit is spotless, the lenders say the loan is to small, can you believe that, I don't understand?? I could get a car loan right now for the same amount and zero down and bad credit, why won't anybody lend to me? grrrrrrr

Quote:

---

Originally Posted by Fr_Chuck

what is the home worth ? does the home meet loan requirements ?

But have you checked your credit to be sure something bad did not get on there for mistake or fraud

---

Home appraised for well over asking price

Hello d:

Try a credit union, or a community bank who carries their own loan portfolio. They'll tell you if they do on the phone.

excon

If you're putting 20% down, and the mortgage is only for $30K, then perhaps the banks are worried that since you only have $7.5K of your own money in the game you would simply walk away if the market value doesn't hold up. Is this an investment property?