Lenders have tighten their purse strings due to an increase in delinquencies and the economy, but financing is still out there to everyone that qualifies.  Things you will need to qualify for a new purchase or a refinance is a solid credit score, document your income and a downpayment unless you are using a government program. 

Here are the three items you need when you go to visit your loan officer:

• Your W-2s and tax returns for the last two years;
• Your last three months of bank statements; and
• Pay-stubs for the most recent 30 days.

Take advantage of the three credit bureaus and check your scores so that you are not surprised by any changes in your credit rating. Your loan officer can help you address some problems on a credit report so be prepared by knowing ahead of time what is on your report.  www.equifax.com, www.transunion.com, & www.experian.com.

If your thinking refinancing, this could be a good time with the low rates.  Take in consideration also if the market in your area is going down and the fact that your home might not appraise that waiting to refinance might not be a good idea. 

If you don't have a loan officer go to www.myboehmteam.com, click on Preferred Business Partners for our list of Mortgage Lenders.