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Mortgage Myths Exposed...the series

By
Real Estate Agent with RE/MAX Sauk Valley

12/12/2007  Sterling, Illinois. Rock Falls, Illinois. Dixon, Illinois as well as Whiteside and Lee Counties, Illinois.

 

Dispelling some myths about getting a mortgage.

I am always amazed when I meet people out in public and they tell me that they can't buy a house because they don't have a large down-payment or that maybe they don't have the most perfect of credit. Is this true? Usually NOT!

Despite what "other people" may tell you this is the farthest thing from the truth. You can STILL buy a house EVEN if you don't have a large amount of money for a down-payment.

Despite the much hyped mortgage meltdown, or crisis or whatever word the media is using this week to sell papers the simple fact is this. YOU CAN STILL BUY A HOME OF YOUR DREAMS!!!

Unless your credit is so bad there is help out there. There are still conventional loan products available. Many of these can get you into a home with as little as 3% down and there are still some available for 100% mortgages for many buyers. Yes these are still credit driven and the better your score the better off you will be, but enter alternative loan products.

Years ago all I wrote for most buyers was FHA loans. These are loans that are guranteed to the lending bank by the Federal Government. Most are at 97%. But wait...it gets better. I am always visiting with lenders to make sure that I stay on top of things and word on the street is that there are several new FHA loan producs coming out. I hope to have more information for you soon.

So you see, getting a home for you and your family has still never been easier, and with still favorable rates the only question you need to ask yourself is "What am I waiting for?"

In the meantime be sure to visit my site at http://www.briancorwell.com/.

Give me a call and I would be happy to discuss more with you and get you started on home ownership.

Brian Corwell

RE?MAX Sauk Valley

Sterling, Illinois Real Estate

Dixon, Illinois Real Estate

Rock Falls, Illinois Real Esate

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