How can I get approved for a cheaper house.

Good Morning. Perhaps you can visit the link I am providing for an organizations in Texas that may be equipped to best serve you. Here is a list of Credit Unions in Texas (http://www.creditunionsonline.com/texas_credit_unions.html). I would start by locating a credit union in the area you are looking to purchase and find out the requirements and minimum loan amounts they may have. Usually, you would need to become a member, which requires opening up an account. Again, find out that information when you make your inquires! Good Luck!

If you are looking to finance under $50K, then it's going to be difficult.. a local credit union or seller financing is going to be your best bet.. Current laws limit the amount a lender can charge to originate a loan.. (5% of loan amount).. for a $50K home, the most a lender can charge is $2500, and underwriting and processing can cost $1000, leaving the lender $1500 to originate the loan, and for most it's not worth it.. Banks and credit unions don't operate under the same rules as mortgage brokers.. so they can charge you as much as your willing to pay.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

first, what state are you in???

Are you looking in Kentucky?

I ran into quite a few lenders on my trek for a mortgage that when down as far as 35k.I'm not sure I'm allowed to say here but do a search on Google.These are institutions that are big so you'll know them.Do a search on the top 10 small mortgage loan lenders.Call them all and don't let them do a hard pull on your credit but tell them what you know.When you find a lender you want to work with, only then let them to a hard pull.

Because of senseless government interference in the mortgage industry, most lenders will not go below around a $50,000 loan because the rules limit what lenders can charge. The reality is we do the exact same work on a $40,000 home as we do on a $400,000 loan. Putting limits just hurts people looking for small loans. Complain to your local representative. You may find under $50,000 loans at small banks and credit unions. www.MnHomesandLoans.com

There are lenders that do not have minimum loan amount but the info by William above still applies. Small loans put a lender "under the microscope" due to their standard fees being a relatvie high percentage of the loan amount. Also, most loan officers are paid based on the amount of the loans they close - small loans take just as long but they are paid very little. A credit union or perhaps a local bank might have loan officers who are paid a minimum regardless of the size of the loan, or some receive salaries. I know that both SunTrust and Wells Fargo both offer that to their loan officers if you don't find someone through a credit union. Just call local mortgage offices at credit unions and banks (not brokers or "mortgage companies") and ask if they have a minimum loan amount. Good luck!