Today’s Mortgage Market
The mortgage industry has certainly undergone tremendous change since the bubble burst, but never in recent history has credit been as tight as it is right now. Its not as easy to get a mortgage loan and the creative loan programs that got so many people in trouble are now a thing of the past. The good news is that while the industry reinvents itself, mortgage rates are at historical lows, and more and more banks are starting to put money back into the marketplace. Also, just like real estate brokers, there are much fewer mortgage brokers in business these days, so the ones that are still in business are generally of a higher caliber.
First Step: How much can I afford?