Pinetop White Mountain Blog

I am sure you have all been hearing on the news how much tougher it is to get a loan to buy a home these days.  Well the fact is, it is getting harder on a daily basis.  If your credit scores are marginal you will now have to pay a much higher interest rate and that fact alone may disqualify you from buying a home at any price. Even FHA is raising the limits on credit scores, requiring more money up front, and that your credit ratios are in line.  If they aren't, you won't buy a home any time soon.   

You need to work on your credit.  The days of easy loans and low down payments are gone.  If you ever hope to own your own home, don't let those past due bills ride, figure out a way to pay them off.  Make purchasing your home your focus and don't get distracted by other things.  That new truck you have been eyeing will still be there.  If it isn't, there will be another.  The "toys" and "toy hauler" you would like to have can wait.  Feathering your home nest should come first and if it doesn't, get used to paying rent and buying nothing because that is all you will be able to do.

In this case the media attention is not off the mark.  Lending regulations tighten up daily and if you don't take care of what is important, the American Dream of Owning a home, will always be just that.  A dream!