How hard is it to get a Mortgage because of Subprime Lending issues?

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we have moderate credit, a 20% down payment, and low diebt and we got our mortgage at a 6.125% rate in less than a week from our bank. you should have little problem with your situation and good credit and income

How hard is it to get a Mortgage because of Subprime Lending issues?

I would never recommend using an online lender for your first purchase transaction. You will be dealing with someone with marginal experience at best. Some of those companies actually process their loans in India.

I don't know about you, but I'd rather be able to sit down face to face with someone the first time I borrow a couple hundred grand. Plus, almost all loan officers/mortgage brokers work on commission. This means you have someone working for you that will not receive a penny unless they close your loan. Which should mean they work extra hard to make it happen, compared to some salaried processor at a call center for some random online lender, where they get paid regardless of whether your specific loan actually closes.

The rates you mention are definitely in range, in fact the first mortgage could easily be .25% lower. I'm closing someone next week 6.125%/7.375% 80/20. Similar profile to yours.

I'd recommend getting a couple referrals to loan officers from friends, family, coworkers, etc... Talk to at least a couple different brokers or bankers. Everyone does things a bit differently, and some have investors and products that others won't, so the offers could vary quite a bit.

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How hard is it to get a Mortgage because of Subprime Lending issues?

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