Home Buying in Fort Worth>Question Details

Jgal2012, Home Buyer in Fort Worth, TX

Trying to find a HomePath Renovation loan for under $35,000- are there any companies that will give you a mortgage for that small of an amount?

Asked by Jgal2012, Fort Worth, TX Thu Jul 5, 2012

The asking price is only $25,500 and with Home Path offering 0 for renovations that still puts the total mortgage amount under $35,000. Has anyone had luck getting a loan for that small of an amount?

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4
So far Well Fargo Home Loans (San Antonio office) has a $20,000 minimum and Texas Banc Mortgage Co (http://txbmc.com/default.aspx) has no loan minimum amount.
0 votes Thank Flag Link Tue Jul 10, 2012
Local small bank are typcial for these types of loans. Most major banks require $50K and above


Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
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0 votes Thank Flag Link Thu Jul 5, 2012
Wow, that is a low amount for a mortgage. I do not know of anyone who will mortgage that low of an amount Barbara is probably on the right track. Good Luck!
0 votes Thank Flag Link Thu Jul 5, 2012
It will be difficult. You might try a bank because they can afford to do some loans for essential "free" to meet government mandates under CRA.
If you find one, let us know. We'll refer all the small loans to them.

Barbara Coker
NMLS#228545
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas!
0 votes Thank Flag Link Thu Jul 5, 2012
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