They most certainly are!
Contrary to what you are hearing on the news, banks are definitely lending money. Unlike the past, you simply have to be creditworthy.
Accordingly, the mortgage industry is eager for a loan application from any mortgage applicant with good credit, verifiable income, and good savings (a 20% down payment deposit will go a long way)! Buyers/ borrowers who meet the above criteria will be approved for a mortgage the same as they would have before the terms “mortgage meltdown” and “financial crisis” were ever uttered.
Mortgage lending has never been an exact science, and lending guidelines have tightened, but don’t think for one minute those banks aren’t looking for qualified mortgage applicants.
In most cases, I can tell someone over the phone, with good certainty, whether or not they will be approved for a mortgage.
With a total down payment of 20% or more, sufficient income to qualify for the loan, and good credit, the lenders are happy to lend.
In more ways than not, it’s the same as it ever was…
For more Information on the Riverside real estate and San Diego real estate market, please feel free to contact me.
Joey Dodge
Broker-Owner
San Diego Real Estate
San Diego County – 760-670-8353
Riverside County – 951-966-1389