Why is government bailing out Fannie Mae/Freddie Mac? Are banks freezing their lending? Is there any money to lend to home buyers? These questions and others are being asked across the media outlets and potential home buyers nationwide. What is reality for someone who needs a mortgage loan to purchase a home?

Answer...YES...there is money available for home buyers - who can meet certain criteria! You must have satisfactory credit, verifiable income, and some cash reserves for a down payment. Assuming "Joe Homebuyer" meets these criteria, then loans are available from HUD, the Veteran's Administration, Fannie, Freddie, and banks.

Let me clarify what's happening since the media has done a great job confusing the public. Due to many bad real estate loans, banks are over exposed and have incurred write offs or losses in the past 12 months. Home values are dropping. Some people are over extended on their credit. As a result, banks are doing fewer car loans, extending fewer credit card approvals, reducing the number of equity lines, and doing fewer lot loans. Mortgage loans have continued for customers that qualify. So, other than for residential lending, banks are pulling back. The media issues blanket statements that gives the perception to the public that there is no money!

I service buyer leads from The Komar Team and other Keller Williams agents. The reality - rates are low, home prices are discounted, and money is available to qualified buyers! Feel free to contact me about financing a home, or Cindy Komar about purchasing one.

Gary Welch
Countrywide Home Loan Consultant
Financing Available in all 50 States
770.888.2232
gary@garywelchhomeloans.com