The lender said it is very hard to get a mortgage loan now
By Rita Fong, Realtor - Marion Arkansas Homes for Sale
(RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 )
The lender said it is very hard to get a mortgage loan now First, I am not a mortgage lender, I am a REALTOR®. I can't precisely explain the mortgage regulation and new changes to you. I just have enough knowledge to share with my clients and prospects about what the basic requirements are to obtain a home loan. I do know new regulation has applied to getting a home loan since Jan 10th this year. To sum it up, and to my understanding there will be more paperwork for the borrower to fill out and more verifications needed throughout the process. New rules are added to mortgage industry in the beginning of each year, it is nothing new. There are good and not so good changes all the time throughout the year, sometimes it may affect some bo...