Trulia Voices: What type of loan products should we expect to see in the next 30 to 60 days during this time of change?

Trulia Voices: What type of loan products should we expect to see in the next 30 to 60 days during this time of change?http://www.trulia.com/voices/Financing/What_type_of_loan_products_should_we_expect_to_see-60861en-usAnswer by Nicole Walkerhttp://www.trulia.com/voices/profile/Real_Estate_Pro-Bellingham_WA-385242/http://www.trulia.com/voices/profile/Real_Estate_Pro-Bellingham_WA-385242/As a mortgage professional, I would say that we are tightening, but there are still lots of opportunities. Currently purchases of owner occupied properties are still available up to 100%, but investment properties are now being limited to owning just 4 total properties and only purchases with15% down. Fannie Mae has done away with any Stated Loans and Freddie Mac will most likely follow. We are still approving people and there is a lot of hype about a lack of credit, but the loans are here to make for most people.Mon, 06 Oct 2008 15:21:38 -0700Answer by James Hsuhttp://www.trulia.com/voices/profile/Real_Estate_Pro-Mill_Creek_WA-54814/http://www.trulia.com/voices/profile/Real_Estate_Pro-Mill_Creek_WA-54814/I'm not a mortgage professional, but I'm gonna guess fewer loan programs with more stringent guidelines. Some day the banks will forget about this experience, but it'll be longer than 30-60 days. If you're referring to how the $700 billion bailout will effect loan programs...I doubt it will do anything anytime soon.Mon, 06 Oct 2008 14:47:02 -0700