Saturday, August 22, 2009

Difficulties in Obtaining Mortgages; Do they still Exist?

mortgageapp2Over the past year we have been inundated by news of hard credit, a lack of credit, and the pains of the mortgage process. What is real and what is perception however might be two different things. In a study of 2008 buyers and sellers done by the National Association of Realtors it apperas that only 7% of all home buyers felt the mortgage process to be more difficult than expected. In fact, 73% found the mortgage process not difficult or no more difficult than expected.


What about the dreaded thought of being rejected for a mortgage? 93% of buyers were successful in obtaining financing for their home purchase. Only 5% where rejected on their first mortgage application while 3% where rejected by two or more lenders before finally obtaining a loan.

The reality seems to be that the process is not as difficult from the buyer’s standpoint as it may be to the loan officer, appraiser, Realtor, and loan underwriter. Hopefully this means that all of the above shelter properly and do a good job professional job at hiding the innate stresses of our jobs!

If you are looking to purchase a home in the Greater Athens area, please feel free to use this link to Search the Athens MLS! While on the Georgia MLS you can search for homes, create a User account to save favorite property searches, email property searches to friends and family, or request more information!

The link to my Featured Properties can take you to any number of properties that I am Marketing currently for Sale.

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