Zillow Advice: Housing Market - Has anyone else noticed the difficulty in getting financing for even "good" risk buyers these days? http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ Zillow Advice | Zillow Real Estate @ Sunnyview - Will never ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ @ Sunnyview - Will never happen, but what if they could escrow half of the commissions and only release them after 24 months...on the provision that the&nbsp;sale is still solid? Could potentially kill two birds with one stone. Make RE less attractive as a short-term "make some coin quick" job for those not serious about RE, and would shift some burden on REAs not to push too hard on the margins. Like I said, would never happen because too many hoops to jump and criteria to slice, but... Fri, 23 Jul 2010 16:18:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-23T16:18:00Z I think it is coming back ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ I think it is coming back to the middle<br/>at least in our area Fri, 23 Jul 2010 15:24:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-23T15:24:00Z The agents responsibility ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ The agents responsibility ends once escrow closes. From there, it's the clients problem if they can't pay due to shaky finances. So the cycle of helping marginally qualified buyers buy continues on. You know what they say: todays squeaky buyer is tomorrow's quick selling REO. Fri, 23 Jul 2010 15:18:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-23T15:18:00Z "In April we had a couple ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ <em>"In April we had a couple qualify on only his income with a 620 credit score nothing down and barely squeeked through on DTI."</em><br/><br/>Woohoo, glad to squeak that one through! I sure hope there was a second income in the household. Barely-there credit and iffy DTI doesn't sound like you really did them any favors - unless something else comes into play that mortgage is going to own them.<br/><br/><em>"We also have a few proven lenders that we highly recommend because they just seem to be able to get the loans done when others can't."</em><br/><br/>And, are you all really doing the clients any favors by squeaking them into mortgages when others within the mortgage industry are saying "uh uh"? Fri, 23 Jul 2010 06:54:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-23T06:54:00Z We've had good success with ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ <p>We've had good success with USDA loans but it is only available in communities with fewer that 20,000 people.&nbsp; In April we had a couple qualify on only his income with a 620 credit score nothing down and barely squeeked through on DTI.&nbsp; We also have a few proven lenders that we highly recommend because they just seem to be able to get the loans done when others can't.</p> Fri, 23 Jul 2010 03:26:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-23T03:26:00Z I agree with you Courtney. ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ I agree with you Courtney. 100% Sun, 18 Jul 2010 05:51:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-18T05:51:00Z Yes, the banks went from ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ Yes, the banks went from super loose to super tight.&nbsp; FHA financing is still the easiest as long as the property doesn't need a lot of work.&nbsp; Sat, 17 Jul 2010 19:02:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-17T19:02:00Z Make sure you have a 2nd ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ Make sure you have a 2nd lending source in case the first bank has made some changes to their underwriting policies. &nbsp;Yes, major lenders do change policies and priorities from time to time, and they may not be thinking about what is best for your client. &nbsp;Assuming you are within conforming or confirming jumbo limits. &nbsp;If you are above those limits, you will have a task looking, as these loans are rare, no matter who says they're doing them. Mon, 12 Jul 2010 04:23:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-07-12T04:23:00Z You obviously haven't spent ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ You obviously haven't spent enough time on the boards to see all the "we can get you FHA with 3.5% down and a 620 FICO" posts.<br/><br/>What's the deal-breaker with your potential paychecks? Trying to go stated income? Mon, 19 Apr 2010 01:20:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-04-19T01:20:00Z No, I've noticed just the ... http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ No, I've noticed just the opposite.&nbsp; It is entirely too easy for people with bad credit and no assets to get loans backed by taxpayers. Sun, 18 Apr 2010 17:02:00 GMT http://www.zillow.com/advice-thread/Has-anyone-else-noticed-the-difficulty-in-getting-financing-for-even-good-risk-buyers-these-days/345143/ 2010-04-18T17:02:00Z