With subprime products going by the way side at a rapid rate it will be paramount to make sure your buyer’s are getting pre-qualified or pre-approved by a lender that you can trust. Know that their knowledge of our changing market is in step with the times.
After 25 years of being in the mortgage industry I recently elected to jump back in and I’ve got to tell you I was amazed at the products that were available to just about everyone. If they were breathing, they could get financing.
With this shakedown taking place you can count on stricter guidelines meaning that borrowers that could qualify for a home within the last few years will probably not be able to now. That being said, make sure before you take the time to show property or write an offer, that you have invested the time and effort to get your clients to your trusted lender.