c2vette

There has been a lot in the press lately about loans still being hard to get. I know a couple of folks that bought homes recently, and had no problem getting conventional 10% down 30 yr fixed. My son expanded his business with a loan to purchase routers and servers, etc (I think about $100k + worth of equipment), and also had no problem getting a business loan. So, what is really the truth? Have we just gone back to reasonable qualification of borrowers? If so, that should be a good thing.

oneton

I hope so, thats what got us in this mess. Giving out loans to someone that can't pay back the note!!!!!

VictorySpark08

There still giving loans, there just harder to get and rightly so. Know there actually looking at your Credit Report and what u owe etc. I was just at out bank this weekend redoing some of my fiancee's issues.

Doc brown

Good credit and money down will still get you a loan. I think the days of 100%financing are gone now, except for maybe those with absolutely squeaky clean credit.

Old Lar

If you have a good credit rating (score 700+), you probably will have no problem getting a loan. You hear very few "No Credit, Bad Credit" advertisements basting over the TV trying to get those with poor credit into debt they can not afford. Although there are still the used car dealers who will get money to fund you car loan to a poor credit risk for 18% or more. You default, they'll just repossess the car and resell it to some other poor smuck.

solman98

I had to move this summer due to my job. Getting the new home loan was no issue, credit score was 805 . And being able to use my VA benefits, I still got 100% financing. Where I bought, they are even offering 100% financing to others (outside of VA) if you have a credit score of 750 or higher. Wish they would have offered that when I bought, might have gotten a slightly better rate. VA is usually a tad higher than a conventional home loan.

-md- HHR

Hard...Getting a home loan is a *****....at least in ohio.

calgaryhhr

I was granted a $7000 loan at the beginning of October. Albeit, I'm in Canada where things are not as bad as in the USA and lenders and banks have always been more cautious here.

I don't need a car loan or mortgage right now so I don't know what the market is like in terms of those loans.

bigvalavgib

A week ago I had no problem getting a car loan from my credit union ( with whom I had 7 car loans in the past) for any amount at 5,75 percent.

SandyBeach

I've been emailing back forth with a dealer to purchase a new HHR and they just don't seem interested. GMAC used to allow you to apply online and send it to the dealer before you went to make a deal but that option isn't available anymore. I guess they want you to sit in there for hours waiting for an answer.

If something doesn't change, I'll start looking at foreign cars.