In the past 3 months I have taken over 40 new applications. Not bad for the season we are coming into.
Something that has alarmed me, however, is what I have heard from almost half of them. “I don’t know if I can get qualified because I hear banks are not lending money anymore” or “I hear it is very difficult to get a loan.”
Qualifying for a Home Loan
Simply stated, these rumors are not true. I don’t know where this rumor started but I suspect media has a lot to do with it. To be sure, it is more difficult to get business loans currently but that doesn’t necessarily translate into residential lending. If the rumors being spread are by people trying to compare today’s lending to the “Sub Prime” era, then yes it is harder to get a home loan…