You would think smaller loans would be easier to get considering there is less money you would owe the bank, right? It would make sense to believe with less possible loss lenders would be more willing to help. If you believe this sentiment, however, you would be wrong.

Smaller Purchases with Less Mortgages

A recent analysis done by the Urban Institute has found that lending institutions are denying mortgages with smaller dollar amounts at a much higher rate than those with larger amounts. This is specifically for single-family purchases, and apparently it has nothing to do with the credit history of the applicants. read more