Hello Suzie, definitely people are still getting mortgages. It is not as easy as a few years ago, as they now have to prove income - no more stated income, those mortgages are gone. But buyers with verifiable income and good credit are out there. As proof, I closed two sales in the past week that had gone under contract in August, and just got two others approved- so they exist. Make sure when you get an offer that you check out your Buyer's lender and the type of mortgage they are getting. That is the first thing I do when my Seller gets an offer. It's not just about accepting an offer, it's about getting the sale closed. Please feel free to call me with any questions. Good Luck!
Angela Jensen
Coldwell Banker Res R.E.
Coral Springs, FL

Yes, Of course folks can still get financing however it's not as easy as it was a few years ago. You can qualify for FHA loans with as little as 3% down ( This is about to change) You can still apply for Buyer assisted loans programs and yes!! people are still buying homes with no money down. If you'd like more information feel free to contact me.

John Chaney
Century21 Bay Realty

3 to 4 years ago if you had a pulse you could get a mortgage...There was no verifying income or at the very least making sure you could afford the home...People lied about incomes and took questionable loans to put themselves into houses they KNEW they could never afford...

Buyers are still getting mortgages...They just now have to qualify the old fashioned way..Which is to do fully documented loans..Declaring their correct income and proving this with your tax returns...No more interest only junk loans...and no more shady brokers/lendors....Oh yea now you have to have some kind of down payment...(Which frankly should have always been required)

So if doing it the correct way means we have less buyers then thats just what we will have less buyers....

Of course people will still continue to buy and sell real estate!

Lenders are being more cautious and tightening guidelines. With an acceptable down-paymnet, quality and secure income, a satisfactory appraisal, etc. Banks and lenders need and want to provide mortgages.

Banks main source of revenue is in great part from providing home loans!

Gone are the days of "stated income" "stated assets" and "creative loans". Now, like it always should have been- a borrower needs to provide documentation. In time things will change for the better.

When property values were rising by the minute- lenders had little risk in a borrowers default.

What goes up...Must come down.

Aventura, Sunny Isles & Bal Harbour
Real Estate Specialist • Sales & Rentals

We are still getting mortgages granted here in NW Florida. You have to have good credit, but there sare still no down payment financing loans available, especially with FHA and VA loans. What will happen next week or after that would be a guess--none of us has a crystal ball!! Stay tuned to CNBC for the latest update on that issue!

If you mean today, yes! If you mean at some unknown time in the future, probably yes, but no one can say for absolutely sure.

Kim Eisen
RE/MAX Realty 100
"Helping People Make Smart Real Estate Decisions for over 28 Years"
Experience Counts!
(651) 457-HOME (4663)

Mortgage loans are still readily available for borrowers. We are direct lenders and allow credit scores down to 580 with a downpayment of 3.50%. which can be gifted. It is also common for sellers to give a concession toward closing costs, making it even easier for the borrower to get into the new home. Although lenders are tightening, there is still plenty of mortgage money available as long as the buyer meets the income and credit standards.

Have a great weekend.

Right now the banks are not loaning money unless the buyer has A+ credit and documented down payment. everyone else has no choice but to sit it out and wait for thisnngs to loosen up.