This is all true in some places, just not in my little corner of the universe (thankfully). I constantly see local articles on various versions of doom and gloom, and they make me wonder whether the authors know something I don’t, whether media hysteria is at play, or whether different realities coexist side by side. More on that later...

A local article yesterday bemoaned how buyers were struggling to get financing and even well qualified buyers needed a 20% downpayment because of the uber stringent requirements that banks have implemented.

Is it that that lenders are being more stringent or is it that they're brought back the standard lending practices they became lax on? Do some agents still think that a warm body is a qualified buyer (apologies to all warm bodies)?

Just the other day I came across a buyer, who while very nice, had no savings or income, making her very nice, but not a real buyer. Although frustrating, I would not say stiffer requirements were at play or that the sky was falling. I also have seen my share of 10% down with PMI loans recently. Are those good for the buyer? Certainly debatable either way, however their existence and availability are not debatable!

I have seen deals stumble because offers that financed through FHA or VA loans were discouraged by the seller’s agents, which had more to do with fearing a low appraisal killing the deal than anything else (see terms matter).

I have also seen large ‘name brand’ lenders delay the process significantly because they’ve gone from six call centers to one (as an example) so they are backlogged, overwhelmed, and bureaucratic.

It's very important to work with top brokers that have access to different lenders, both large and local.

Steve Lupton from ISB Mortgage, who I work with very closely, confirms my own experience, “We have never not been able to finance qualified buyers”.

In every market, in every area, there are experts that seem to thrive where others stumble. Do other folk know something that I don’t or do we have parallel realities that coexist side by side? Just in case you like my reality, Steve can be reached at 908-522-6500.