Charleston SC Real Estate

Can you get a home loan in Charleston, SC? If you follow the major news media's portrayal of the housing market, you may feel like you should never buy a home the rest of your life. Most of the news is doom and gloom. A lot of the news organizations talk about such things as foreclosure filings, vacancy rates, and the big one lately, no money available to lend. It is not so much that the there is not any funds to lend, as it is less qualified buyers in the market place. A few years ago, it was quite a different story. An example of the lending practices during the "boom," was getting a loan without having to provide documentation of your income and debt. All you needed was heartbeat and pen to sign for the house, and it was yours. Try that game now, and you will be denied until the end of time. The mortgage industry tightened its belt and now requires everything you've got and then some. But, if you have a decent debt to income ratio, with a reasonable credit score, and able to show proof such as tax returns and bank statements, you can get a loan. If you are unsure if you qualify, contact a lender to discuss the possibilities. A good lender will not only tell you if you can buy now, but perhaps show you how to in the future if you do not qualify right away. Statistics, good or bad, help sell news stories. Talk to a REALTOR in the market you are looking in to hear the real stories of buying and selling homes. Homes are being bought and sold everyday here in the Charleston SC real estate market at incredible interest rates. Check it out to see if you are ready to purchase!