THERE IS STILL MONEY TO LEND

By
Mortgage and Lending with Benchmark Mortgage nmls 2143 NMLS # 198479

I was talking with a realtor in my area earlier.  She had spoken with a few other prominent realtors and builders and they had all encountered people that thought there was no money to lend.  One of the realtors children even thought they could not be approved for a loan and had mentioned renting for at least a year til there was some money.

I have closed three loans this week and let me assure you THERE IS MONEY TO LEND!  If you have a stable job, 3% downpayment and decent credit you should be approved for a home purchase.  Spread the word!  Why would anyone assume there is no money without calling to check it out? 

Comments (4)

Chris Montz
Network Funding, LP - Birmingham, AL

There are also some 100% loans still there too dont forget about those Val

Nov 19, 2008 01:04 PM
Clifton Henderson
A Prime Properties Group / Executive Investments - Fairhope, AL

Money to lend

I keep hearing the same thing about "No money to lend". Where Realtor's keep coming up with that statement I will never know.

I think some mortgage lender are telling their client that so that they will not have to work with difficult buyer's. Here in Mobile Al, we are still going strong. We are lucky to have a positive growth index. Now finding qualified buyers is the still the same challenge as any where else.

My mortgage team are just more willing to go that extra mile to work the my buyer's instead of using an excuse " No money to lend". Money is flowing, it just the lender are more cautious now.

CliftonHenderson.com  Mobile Al

Nov 19, 2008 01:10 PM
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

I have heard these rumours but have not heard of anyone that hasn't closed because there is no money to lend.  It's just that you've got to be credit-worthy to get it.

Nov 19, 2008 11:41 PM
Debbie Hutchins
Birmingham, AL

Yes there is a lot of talk out there these days, but just like any rumour my advice would be to talk to a person in the industry, your Realtor or your Mortgage loan officer and get the facts.

Now is a great time to buy a home..good inventory, good prices, good interest rates....and lots of money to lend!

Debbie

Nov 20, 2008 07:42 AM