Potential real estate buyers and refinancers usually hear home loan financing requirements are way too tight — that it is difficult to be eligible for a home loan without perfect credit. But just how difficult is it, actually, to obtain a home loan today?
This will depend on that you ask and that which you suggest, precisely, whenever it is asked by you.
“If somebody says so it’s harder to have home financing today than it absolutely was during the height associated with the growth — whenever there was clearly no earnings paperwork requirement — yes, needless to say it is harder to obtain a home loan today than it had been in the height associated with the insanity, ” claims Bob Walters, main economist at Quicken Loans. Read more