By: Matt Eversgerd of First Integrity Mortgage Services, St. Louis, 314-620-7227

Many people have been asking, “How did we get to this place in the housing market where it’s so hard to get a loan?” My response is simply, “It’s not near as hard as you think.”

There are four main components that go into a lending decision: credit, income, employment, and down payment. If you are in the majority that have managed your credit well, lived within your means, demonstrated an ability to save money, and have at least 5% to put down, you will get a great loan with no hassle.

So what if you have “challenging credit?” What if you have very little money to put down? I have good news…FHA (Federal Housing Administration) is here to save the day. With 3% down, and this can even be a gift from a family member, you can get a 30 year mortgage at a very low rate with which you can buy your St. Louis home. We will require you to have a job. We will require you to buy a home you can afford. We will demand that you have paid most of your creditors on time…sound fair?

The bottom line is this. There are homes to buy; there are loans available. Prices are lower than they were a few years ago and interest rates are still at historically low levels. It’s not hard to get a loan!

Are you prequalified to buy your St. Louis home?

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