If Money Is So Tight, How Come We are Selling Homes?
If we are to believe the news media, no one is able to get money and thus buy a home. But if that’s true no one told us about the shortage of money. I have not found that money is difficult to obtain, however the restrictions are a little more realistic than they used to be. For example Freddie Mac (the government) now charges a 3/4pt “Delivery Fee” on loans. Outrageous you say? Well if you have more than 25% down towards the purchase price the fee can be waived, IF your credit score is reasonable. Now I can remember a time, way back, when you had to have a 
20% down payment otherwise you just did not get the loan. What we really are experiencing here in our market is a contraction from some very liberal lending policies to a more normal lending pattern. For complete information on the thresholds in lending you can visit Freddie Mac. If you are not a research person and want someone to walk you through the process call Brian Faust at Wisconsin Mortgage at 414-587-2437 or brian@wimort.com .
Posted By:
Glenn Hanon
