Are home mortgages easy to obtain today in comparison to a year ago?

All the nre regulation is in effect and has been for last few years. Minor changes lately, but the most radical changed occured before 2010. No more 80/20 loans and no down payment. In the last year, we lost the tax credit for 1st time homebuyers. Other than that, the rates are really good, and you can do 3.5% down on FHA with rates in the 4's. Obviously you need to have stable, verifiable income, good credit and down payment. Good luck!

I think the most honest answer is, "it depends." I would certainly agree that most of the major changes had already taken place before a year ago, but it seems there are constant changes in the industry. I've personally found more challenges have occurred in underwriting with certain circumstances, primarily less-than-perfect credit (requiring several explanations, etc.), if there is a "departure" property involved and, surprisingly, borrower's with a lot of assets who are moving funds from several accounts to provide their down payment, etc. The biggest key to making it a smooth process is to meet with a mortgage person early in the purchase process and identify anything that may be a potential "speed bump." If you work with somebody who gives you confidence in their abilities, you start the process early/prepare and you communicate openly/honestly along the way, then you'll be just fine. The worst problems always seem to come from communication and lack of preparation.If you want to give me a call at 801-918-9385, or visit my website at www.homeloansinutah.com, I'd be happy to help you prepare. I'm right here in Salt Lake City with you, so it would be easy to meet face-to-face and facilitate the best communication.