Lenders

Make sure you are set up with a reputable lender! Part of what caused this problem is lending through irresponsibility. Most internet lenders are lenders to stay away from. They promise the moon and the stars and don’t deliver on it. Local lenders are always best! If they cannot get you approved, then you probably should not be buying right now.

Make sure they have a variety of products to choose from. Some lenders will not loan on amounts less than $50,000. Others offer rehab loans. Some do not offer VA or FHA. If you do not know what kind of loans are available, ask your lender. A good realtor will also have a good idea about the kind of loans available and what lenders specialize in.