Local mortgage lenders say money is available
John Hunter just shakes his head every time he hears it.
"Fear is ruling the roost right now," he said. "With everybody out there talking about how bad things are."
Hunter is co-owner of Cedar River Mortgage, where business is booming right now. He's hiring, and he plans to expand his building.
But how, you ask? Mortgage lenders across the country have been driven out of business.
Part of the reason for his success, he says, is that there's plenty of money available for mortgages right now.
"Overall, the rates have stayed real low in the high fives and low sixes," Hunter says.
Laura Kiel, owner of Kiel Mortgage, agrees.
"The great news right now is that we have both low interest rates and low purchase prices," she said. "It's an especially good time for first-time buyers because of tax benefits put in place by our Congress."
If your credit is bad, you still can refinance.
"I think the options are fewer (for those with challenged credit) and that's a good thing," Hunter says. "There were a lot of loans that were being done just because the banks could sell the paper, not necessarily because they were good loans to be made."
Another reason he's finding success right now is that Hunter and other local lenders practice the basics, knowing that their way of doing business will keep you in your home for years to come.
"We're back to the way it used to be done ten years ago," Hunter says. "You have to be able to prove your ability to repay the money."
"Fear is ruling the roost right now," he said. "With everybody out there talking about how bad things are."
Hunter is co-owner of Cedar River Mortgage, where business is booming right now. He's hiring, and he plans to expand his building.
But how, you ask? Mortgage lenders across the country have been driven out of business.
Part of the reason for his success, he says, is that there's plenty of money available for mortgages right now.
"Overall, the rates have stayed real low in the high fives and low sixes," Hunter says.
Laura Kiel, owner of Kiel Mortgage, agrees.
"The great news right now is that we have both low interest rates and low purchase prices," she said. "It's an especially good time for first-time buyers because of tax benefits put in place by our Congress."
If your credit is bad, you still can refinance.
"I think the options are fewer (for those with challenged credit) and that's a good thing," Hunter says. "There were a lot of loans that were being done just because the banks could sell the paper, not necessarily because they were good loans to be made."
Another reason he's finding success right now is that Hunter and other local lenders practice the basics, knowing that their way of doing business will keep you in your home for years to come.
"We're back to the way it used to be done ten years ago," Hunter says. "You have to be able to prove your ability to repay the money."