 TITLE: What’s the Lowest Mortgage Amount You Can Get? CONTENT: Things to Look Out for When Shopping for Small Mortgage Loans\n-------------------------------------------------------------\nEven when you're looking for a small mortgage, the details still matter. If you're not careful, borrowing a small amount could be more expensive than taking out a big loan.\nClosing costs are one of the details you should pay close attention to, since these can come out to around 3% to 4% of your total purchase price. You'll also want to understand your total interest cost. It might not seem that important for a smaller loan amount, but the difference between 3% and 5% APR on a $100,000 loan with a 15-year repayment is over $18,000 in interest charges.\nAs with any financing you shop for, be sure to compare costs and rates between one lender and another. Getting prequalification offers can help you review quotes without hurting your credit, and as an added benefit you can use the offers to negotiate better deals between one lender and the next. Just keep in mind that terms and rates could change if your credit or other factors change when you apply for the loan. END