Subprime Lending

Big changes in the mortgage market

More and more borrowers are finding the ability of some borrowers to qualify for a mortgage difficult, if not impossible to qualify for.

Realtors, you should offer these borrowers information about conventional products like fixed rate and traditional ARMs that may be good choices for first-time homebuyers -- both prime and subprime. 

Info should provided concerning responsible nontraditional mortgages and hybrid subprime mortgages which may also be the right choice for borrowers who can afford them.

FHA and VA have also recently made significant improvements to their programs that can be valuable financing tools for many homebuyers.  Realors should be able to provide this info, and lenders in the area offering these products.