How times changed! After spending the last 20 years of my life as a Mortgage lender I thought I had seen just about everything in our industry had to offer but I was wrong. As more lenders fall on hard times they continue to make it harder for all borrowers to make the dream of ownership a reality. It seems that on a daily basis we are seeing them changing the guidelines for the worse. The investors are asking for additional documentation that sometimes just doesn’t make sense. Long gone are the days of EZ doc files or stated income loans, Investors want to see everything!

Thank God for FHA loans! FHA will still finance up to 97% of the purchase price with very competitive rates and allow for some slight hiccups in your credit as they realize that no one is perfect. I believe that the FHA programs will single-handedly pull us up from this current market state and shine the much needed ray of hope that we need to stabilize this current down turn. If you haven’t heard of FHA loans your not alone they have been around for many years now but have been under utilized in California due to California being a high cost state. If you thought that home ownership in the Tri-Valley area, i.e., Livermore, Pleasanton, Dublin, San Ramon and Danville was out of your reach then you might want to consider an FHA Loan.

Dana

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