Don't Panic! It is still possible to get mortgages!

For those of you who are stuck in an environment where you can't watch videos, here's a plain old text version of the video.  (More or less the same message.....) 

In today's video, I discuss the common misconception held by many many real estate shoppers these days.  "It's impossible to get a mortgage."

 I get the same feeling when I watch TV.  All you hear about is doom and gloom and the "housing bubble".  Well I wont' lie... It's a tough market.  For Sellers!  Prices and rates are great for buyers though and mortgages are very much out there for the borrowing. 

 It's true that you can no longer qualify for a mortgage that's out of your reach, financially BUT if you have good credit, the right balance of debt to income and a steady job, you CAN get a mortgage if you talk to the right loan officer.  (If I were a mortgage broker I'd hate that title!)

 But there is an important key to what I said there.  "the right loan officer."  These days, as you probably know by now, different banks are enjoying different levels of liquidity and stability.  Your local bank is always a good place to start the process but if they shoot you down, DON'T panic!  Ask around and shop your request.  I'm finding these days that a savy mortgage brokerage can get the job better then almost anyone. 

Mortgage Brokerages write loans for lots of different banks around the world.  They can shop your particular circumstances around and find the right program.  Your local savings and loan bank has just one set of programs.  You either fit into their criteria or you don't. 

SO, the moral of the story is don't fret and don't buy into the negative press.  Instead, feel free to embrace it and consider taking advantage of today's low prices and low rates.