Eugene Loan Guy

Danny Thornton is a friend of my on the far side of the United States. It is amazing what can be accomplished today through the internet and free long distance calling. It is Danny’s opinion (and mine) that today’s low interest rates and drop in housing prices have made this an ideal time to seriously consider making that home purchase you may have been putting off. I believe Danny makes some excellent points, please let me know your views.

Ringing in the New Year

Danny Thornton January 1st, 2009

With a resounding ring, the new year was ushered in by billions of people all over the world. For some, they were glad to get 2008 behind them. For others, they were glad to get 2009 started. For me, I fall in the second group. I am excited in what I see happening in the housing market here in American. Do I think that it is going to create a wealth of income for fly-by-night professionals as it did in the 90’s? No, not even close, but it will create a steady stream of income to the professionals that get into it for the right reasons.

At this point and time, it is a great time to buy or refinance. Rates are historically low, but if you are a person that likes to play the waiting game, this is truly not a market that you want to be in. It is not stable and the rates do not sit still. What a loan officer might quote you today might be gone tomorrow. It might change for the better and it might change for the worse. It is almost like playing Russian Roulette. Personally, I do not think that it is worth the wait.

If  were in the market to buy or refinance and I get approved, I am jumping in the market. That opportunity might not appear tomorrow or next week. We live in a time and age that we have to be in the now. That means, if you want to take some time to think about it, 24 hours is not on the table any more.

One for the things that readers know about me is I have always been a straight shooter and will continue to do that. I am always going to make it positive but I am not going to sugar coat the truth. If it was ugly, I would tell you it is ugly. Frankly, I can not see half of these things that people talk about. I hear people saying that it is harder to get a loan. Frankly, I cannot see that. If you mean that you can not just call up and tell the lender how much you make and how much is in the bank, then I guess you are right. Those loans are long gone and should have never been so loosely offered.

With that said, as long as you meet the criteria having a job, making money, and paying your bills, then you need to be taking to a competent loan officers. These are the only people that can tell you for sure if you qualify.

As always, if you have questions, do not shy away from asking. I will be brutally honest with you.

You can’t say often enough that talking to a competent loan officer is what you need to do to make an informed decision. Only after having all the information should you make a decision of this magnitude.

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