“The dream of the older generation was to pay off a mortgage. The dream of
today’s young families is to get one.”   It is true that it is harder today to get a home mortgage than it was several years ago, but there are a lot of good options still out there.  I believe that there are a lot of people out there renting right now that would qualify for a loan, but since people don’t understand the process, they automatically assume that they don’t qualify.  It is also true that if you have questionable credit, you will probably not be getting a home mortgage.  However, some people are mistaking little credit for bad credit.  I am not here to tell you whether you qualify for a loan or not.  Not my area of expertise, not my job.  What I will tell you is that you will not know where you stand until you ask.  As a potential buyer, it does not cost you anything, but about 30 minutes, to talk with a lender and see if you prequalify and if so, for how much.  If you do qualify, then you will understand how much of a house payment you can afford. If you do not qualify, then most of the time, the lender will take a few minutes and give you some advice on what it would take to improve your position so that you can qualify in the future.  So then you work on your credit and come back and prequalify in the future.  If you qualify, you still have the option of choosing your lender and the terms.  Prequalification does not commit you to anything.  The other thing that you would gain by the prequalification process is that you can discuss different types of loans that are available to you.  Did you know that there are still options to buy a house with little to no money down?  Your loan officer would be able to discuss all of the possibilities with you.  Because of low-interest rates, it is possible to own a home for the same or less than you are currently paying in rent.  That is definitely something to consider.  So, morale of the story, you don’t know until you ask…find a loan officer, go through the quick prequalification process and then explore your possibilities.  You have absolutely nothing to lose!!