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What is the minimum mortgage loan amount?
#1
Whether a mortgage loan applicant applies for a $50,000 mortgage loan or a $400,000 mortgage loan, the amount of work to process and underwrite the mortgage loan is the same. Many mortgage lenders require a $100,000 minimum loan amount in order to proceed to process and underwrite the mortgage loan application. Other mortgage lenders will take mortgage loans under $100,000. Most mortgage lenders will not take on any mortgage loan applications under $50,000. If you have a very small mortgage loan you are applying for, your best bet is to take it to a local bank if you keep on getting denied by other mortgage brokers or mortgage lender due to the small size of the mortgage loan.

Here is a related article to this topic that might prove useful:

http://gustancho.com/how-do-i-qualify-fo...gage-loan/

 
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