I had a hell of a time finding a bank willing to put together a mortgage for sub $150k. Has taken me almost 8 months, and multiple failed attempts with various national and local banks before we finally found one willing to work with us to buy my wife's grandfather's house so he can retire.

Without all the cash up front, a low-priced house is actually harder to buy than a house you cannot afford. One of the banks literally told me, I qualify for a 5% down payment on a $750k house (roughly $4k/mo payment), but they wouldn't touch a $110k house with 20% down.