dahat said:
Jason I said:
*snip*
> If they're too tight, even people with good credit (like me) can't get mortgages.

I'm sorry but I think I need to call BS on that statement.

Are you trying to get a mortgage under the circumstances someone would 20 years ago or 5? How big is the down payment that you are prepared to make (% wise to the total of your desired mortgage). Is it possible that you are just asking for loan larger than the bank feels your credit and finances warrant? I'd wager that you were to aim your sights a hair lower and ask for a smaller mortgage for a lesser house you'd probably have better luck.

No BS intended, and I see where you're coming from.. Most companies, even people, would not consider me a risk if I put 99.9% of a house's value as a down payment. No brainer. And very few people would consider me a safe bet if I put nothing down.

My point is that it would be difficult for many people to get mortgages, generally, than it was a few years ago. Americans don't tend to save money, and we often have a lot of non mortgage-related debt. I fall somewhat in this category. But I could get 20% down (or close to it) *if* my house sold. But the working class just aren't buying homes now (a lot of people aren't, as everyone knows). So, yeah, I can't get a mortgage. Some of the problem is my lack of a cash downpayment at this time. A lot of it is that I can't afford two mortgages, if my first house doesn't sell.