GoKawiilLenders Show Less Appetite for Mortgages Under $100,000, Report Finds
Borrowers seeking small mortgages, often under $100,000, are finding it harder to secure financing even though these loans correspond to the cheapest homes on the market. A key reason is that many of the fixed costs lenders incur to originate a mortgage don't scale down with the loan size, making smaller loans less profitable to issue.