Although it's somewhat more difficult to qualify for a loan than it was, say 5 years ago, the basic guidelines are still the same - you need to have a good credit history, stable employment, and some money for a down payment. Lenders may be asking for more paperwork, but that doesn't necessarily make it harder for people to qualify.
It's become more difficult for people with poor credit and a lot of debt to get a mortgage, however those are probably the exact people who should be focusing on getting their finances in order before deciding to buy a home! Homeownership is a privelege, not a right, and I think that principle was lost during the hey-day of loose lending requirements where you could get a loan with a library card and a pulse.
I would say that in general it is higher than 80%, but that depends on if the house is priced competitively, or overpriced from the start. You can call me to discuss it further. (208) 339-1750.... more