FYI folks, if you are planning on putting less than 10% down, if you have a credit score under 700, if you have income that is not documented (or not at a consistent level over the last few years), or any combo of these, you may wish to accelerate your purchase process. Loan programs that accommodate these circumstances are disappearing.
While ya'll know that I do not agree with the media doom and gloom and blanket statements regarding market conditions in Sacramento, I recommend to all of you to keep a watchful eye on lending right now. If you were pre-qualified with a loan officer a month ago or more, I would advise you to get in touch with your loan officer tomorrow and re-evaluate where you stand.
Interest rates remain near historic lows...don't waste time...
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