| It seems you cannot go one day with out hearing | | | | the main reason is that mortgage brokers offer |
| some gloom and doom news about the slumping | | | | the most programs and are the most flexible. If |
| housing and credit market in America right now. | | | | one lender has a better program a mortgage |
| These news reports make it seem like not one | | | | broker can switch your loan to a different lender |
| house will sell and no lenders will lend anyone | | | | in about 15 minutes. This cannot be done with a |
| money to buy a home. The fact is is that nothing | | | | bank or national lender, you are stuck with what |
| could be further from the truth, even with the | | | | they offer in house and thats it! |
| slumping housing market and tighter lending | | | | When you arrive at the mortgage brokers office |
| guidelines there has never been a better time to | | | | make sure you bring you most recent pay check |
| buy a home but you need to be aware of a few | | | | stubs, any bank and retirement account |
| things regarding your financing before you start to | | | | statements and your last 2 years taxes. This will |
| shop for your first home. | | | | allow the broker to accurately quote your |
| Its a fact that mortgage lenders have tightened | | | | purchasing range and keep your debt to income |
| up their lending guidelines and programs, many are | | | | levels around 41% which is considered acceptable |
| not even doing 100% financing anymore. To | | | | levels by most lenders. By staying at acceptable |
| make sure you are not just spinning your wheels | | | | debt ratio levels your loan is less likely to be |
| when you shop for a home and to avoid being let | | | | denied in underwriting. |
| down you should talk to a mortgage lender first | | | | While buying a house in 2008 will be harder it will |
| to make sure you are pre-approved for a loan. | | | | not be impossible if you take the right steps in |
| When buying a home in 2008 it is a good choice | | | | the beginning and get an accurate mortgage |
| to use a mortgage broker over a bank or large | | | | approval from a reputable mortgage broker. |
| national lender. The reasons for this are many but | | | | |