For an increasing number of lenders, small mortgages don’t pay. The number of small home mortgages has decreased post-recession, as lenders have increased the number of loans on home purchases over $150,000, according to the Wall Street Journal. Borrowers searching for smaller mortgages are being denied in part because mortgages typically have fixed costs, so lenders can’t make the profit they seek on smaller loans, the Journal reported. Originations for loans below $70,000 have dropped […]
source https://therealdeal.com/la/2019/05/09/mortgage-lenders-are-denying-more-small-loan-applicants-hurting-homebuyers-report/#new_tab
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