How to Look for a Loan

Take a look at the chart to the right. This chart, based on Federal Reserve data, demonstrates that the outstanding dollar amount of mortgage loans went up in all 4 quarters of 2007, even as real estate prices receded.

While 2008 data is not yet available, our sources tell us that there is still mortgage money out there for FHA loans, VA loans, USDA loans, Mass. Housing loans, conventional bank loans and more.

And interest rates remain reasonable.

Now the bad news: lenders are growing more selective. Financing remains available but loan criteria are tightening.

That's why you need to learn how to look for a loan just as you learn how to look for a home. Your best guide? Your own real estate agent.

Step One: Get Independent Advice

How do you make sure you're getting the right mortgage loan? Your Four Columns Realty agent can help you to:

• Determine the best lender for your situation
• Find out - and improve - your credit score
• Get pre-approved for a loan before you shop for a home
• Avoid mistakes that could doom your loan application
• Locate special programs like first-time homebuyer loans (you'll need more than beginner's luck)

Your first move? Contact Four Columns Realty. You can trust our recommendations because we're independent. We're on your side.

Give us a call today.