Finance

Tuesday,September 07,2010

Text Size

User Login

Resources

Latest News

Finance

Qualifying for Mortgages

By Brad Cullipher

Are you in the market for a new home loan but are concerned about qualifying for new mortgages? The news is good for those buyers in the market who have saved money for a down payment and who have maintained good credit through the past several years of difficult economic times. For a number of reasons, now may be the right time to buy, and good, qualified buyers are taking advantage of a number of programs and special benefits happening right now to help them get into a home of their dreams.

First of all, the mortgage companies who were selling bad home loans and bad programs have been seen for the troubles they have caused their borrowers, and they are either out of business or no longer offering those kinds of programs that will wind up hurting their borrowers down the road. Most lenders are getting back to structured loans that are typically fixed mortgages, to avoid the disasters of the past 5 years. There are a record number of homes in foreclosure and homes that are selling as short sales, showing that