To some extent a low mounted fin will counter the dihedral but it's generally a slight effect. I've made lots of small chuck gliders with low mounted fins as well as high mounted ones. Any difference in the effect of the mounting location has always been lost in the effects from the other design aspects.

And once the model reaches a size where the weight is an issue then it's just a matter of practical handling and operational aspects. Low mounted fins require odd landing gears and do not offer any advantages significant enough to warrant the other oddities that they require.