"Recently I had a discussion with Jay Young, a Managing Loan Consultant with Countrywide Home Loans. He stated emphatically that his company was open for business and that loans were flowing throughout the process with competitive rates. "It is rare that any loan I submit to underwriting is denied. Jumbo, conventional, FHA and VA loans are all available, and there is plenty of money to loan,” he said. He told me that recent changes in underwriting mostly effected zero down loans and stated income loans. Jay says, "Underwriting and the ability to fund loans is still much more flexible today that it was 22 years ago, when I started in the business." The advent of electronic underwriting has relieved underwriters from the fear that they once had regarding debt to income ratios. Further he stated,” Borrowers with decent credit, 3% Down, and a regular paying job should not have much trouble buying a home; particularly with the relative low cost of homes today." 

With homes being so affordable today, anyone thinking of buying a home should investigate their buying power and find out how much money they will need for down payments and closing costs. You can contact Jay Young any time at 858-361-8085 for a free consultation.

Frank Crowley

Keller Williams Realtor

Carlsbad, Ca.

www.fcrowley.com

http://fcrowley.yourkwagent.com/

760-685-2380