Unsecured/ Secured loan vs. Small Mortgage (purchase, $10k, qualify, income) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

CarolinaOnMyMind · 01-20-2010, 02:23 PM

Hi everyone,

Would a unsecured or a secured loan for that matter be a good alternative to a small mortgage to purchase a home if the loan is for $10K - 20K? What are the pros and cons of each. I dont know enough about unsecured or secured loans and how you can qualify for one. I want to explore this option. Do unsecured loans/secured loans require income verification like a mortgage? Where would you get such a loan? Thanks in advance for everyone's feedback and advice.

Gary