It is very easy to get caught up in the negativity from the media surrounding the housing market. If you’ve been following, I am on a seven week path to laying out the facts as to why now is an unprecedented time in our lives for the real estate market.
REASON # 3 – Lenders are back in the game!
The last few month’s of 2009’s meltdown in the financial markets led to an overwhelming sense that financing had dried up. You could almost hear the wind whistling through the offices of most loan officers, if they hadn’t already closed up shop and moved on to that great pizza delivery career they had always dreamed of. Mark Twain once said "The reports of my death are greatly exaggerated." Wasn’t much of an exaggeration to say that pulse was hard to find in the lender community.
But they’re back! You can take advantage of the misguided thinking that money has dried up, because many banks have revamped their criteria for lending and are literally starving for qualified buyers. Most people do not realize that it is still possible to get 0-3 percent down where credit score isn’t the only determining factor.
The need to make loans varies depending on which bank you talk to. If you are having difficulty, by all means – talk to another bank! Or better yet, call me today and I will put you in touch with at least 3 mortgage brokers that will fight for your business. If you have a job and can afford the payment, chances are you will qualify for a mortgage.
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