Mortgage Lender ?

How did you find your mortgage lender ? To those who got a mortage recently ,was it difficult to get approved ? I imagine the guidelines are stricter now.

Re: Mortgage Lender ?

I don't really think they are much stricter now for the average person.

If you have good over 700 credit and your monthly mortgage + taxes + insurance payment will be less than 30% of your salary, and your total debt less than 45% you should get a mortgage with no problems.

Re: Mortgage Lender ?

we looked at a few different companies and went with the one who not only had the best rate but was the best at keeping in touch with us while we were house hunting and going to contract.

of course, there were a few glitches towards the end of the process (nothing serious) but the blame game got passed around quite a bit so i'm hesitant to recommend the bank.

as far as getting approved, we had no issues at all. my credit score is really good, DH's is not as good (not bad, not great) but because of our jobs (almost toal job security) and our current income, as well as our debt-to-income ratio (which was probably around 40% or so) we had no issues whatsoever.

it really depends on your individual situation. banks are more cautious these days but they still need to do business. they're not in the habit of turning everyone away who doesn't have a credit score over 720 and no CC debt.