Getting Approved for a Mortgage in Charlotte NC

Are you trying to get approved for a mortgage loan?  Not as easy as it used to be, is it?  There is good news and bad news about the ever changing mortgage world…

First the bad news!  It is definitely more difficult to obtain approval for a residential mortgage loan today.  Every lender is different, so the rules and requirements might differ slightly but overall the process has become pretty much the same any where you go.  The mortgage meltdown and insuing banking crisis of the past few years, along with increased regulation from Uncle Sam, has created a scary environment for lending.  Mortgage companies and banks are afraid to make a mistake and have become overly cautious about each potential loan applicant. 

The GOOD NEWS is that with a solid plan and good preparation you CAN still get approved without prefect credit or a ton of assets!  If you do your “homework” and work with your lender early in the process you can even eliminate a lot of the stress and frustration that comes with getting a mortgage loan.  In Charlotte, properties are still priced low and rates are at record lows, so now is a great time to buy and you shouldn’t let the perception of a tough process hold you back!!

Think about it this way… would you rather someone sale you an overpriced home with a payment you can’t afford?  No matter how easy the process, that’s NOT a good deal!  You are better off jumping through a few hoops but ending up with a great deal on a house and a monthly payment that allows you to eat out at restaurants other than McDonalds! 

In my next post I will detail a simple plan that will have you on your way to homeownership!!  To get started right away, give me a call at 980-721-7478!

 

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