While the growth has been modest, banks are starting to make more loans again, The New York Times reports. Yet, the lending does tend to favor the strongest corporate and consumer borrowers, the article notes.
With more stringent underwriting criteria the last few years, many borrowers have expressed concern over the increasing trouble in qualifying for a loan today.
This is why it is so importatnt to speak to your lender and have a pre-approval letter BEFORE shopping for your home. More and More Sellers are requiring pre-qualification or pre-approval letters when making an offer on thier home. Make sure that you have one so that the home of your dreams will not be sold to another person.
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