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can you get a 5000.00 (yes five thousand) home loan or mortgage?
I want to buy a house in another state because it would benefit my brother living in that state and in the future myself as well. I don't know much about home mortgages....can you even get a home mortgage for an amount as small at five thousand? The house itself is five thousand.
HELLO, its listed on http://www.realtor.com/ and its not a scam site and is a legit sell. Its in a part of arizona where land and homes are super cheap because of the area. My brother lives out there and has confirmed.
3 Answers
- bdancer222Lv 78 years agoFavorite Answer
Even if this is a legitimate home for sale for only $5k, it is highly unlikely you will find any mortgage lender willing to deal with such a small loan. I think that would be a sub-subprime loan.
You might be able to get a non-traditional mortgage or personal loan for short term. For that small amount, you could even use a credit card.
- A HunchLv 78 years ago
Even in Arizona where land is super cheap, it's not that cheap.
There is probably more to it than that. Like there is no active utilities and you to spend thousands thousands of dollars to install them. Or there are costly liens on the property that need to be paid by you before the house can close.
www.realtor.com is a legitimate site but it doesn't mean every property for sale on it is legitimate. Like all the other online sites and might have picked up the listing from something else.
- Silly GooseLv 78 years ago
No.
And stop looking at foreclosure SCAM sites. These homes could have liens, termites, back taxes due, asbestos, and not even a solid roof.
