With all the news stories, newspaper headlines and radio talk programs these last couple of weeks, it sure leaves homebuyers nervous and unsure of what to expect when they apply for a home loan. What has happened is mostly with the mortgage brokers and A- credit borrowers.

Yes you can still get a home loan, yes a zero down home loan, yes a interest only home loan. No you can not if your credit score or assets are low. You need to have higher quality credit scores and proof of the ability to make the payments should something happen to your or a spouses job. The Banks are still here doing business as usual with their customers and members of the community. Mortgage brokers can find no one to help fund their loans. A Bank will be your best bet on getting pre-approved for a home loan. Mortgage money is still under 7%, a good benchmark for a fair loan rate. Someone seeking a jumbo mortgage with a jumbo salary will also be fine, it is only the people whos incomes who were not proportional to the size of the mortgage that they were seeking who are out of the market right now.