Interest rates for home loans remain at all-time lows. The federal first-time homebuyer program has still got some steam left in it, and real estate agents are touting, “Now’s a great time to buy!”
There’s just one small problem: Tighter lending standards make it tougher to get a loan.
Most consumers can’t buy a house without a loan, but last year at the largest 10% of U.S. banks (by asset size), consumer lending shrank by 4.7%, according to the Wall Street Journal.
Happily, there is a silver lining.
The same article reports consumer loans rose 3% at financial institutions that make up the lower 50% of industry assets. A spokeswoman for one Pennsylvania bank reported a 30% jump in consumer lending.
For consumers in the market for a mortgage, remember to shop around the same way you should when choosing a title company. Compare costs, talk to a few experts, read some blogs . If after shopping, you come to find lending standards are too strict to accommodate your needs, look for ways to beef up your down payment.
More on that a little later. …
Related Articles

Is a Survey Title? What Every Buyer’s Agent Should Know About Property Boundaries
That fence, tree line, or retaining wall may not mark the actual property boundary. And discovering that fact after clos…

Why Paper Checks Don't Pass the Closing Test
Why title companies require wire transfers over cashier's checks at closing, and how to protect yourself from wire fraud…

Official-Looking Mail vs. Your Wallet: A Scam Spotting Guide
A guide to spotting two common scams targeting new LLC owners and homeowners — fake annual report fees and deed copy sol…
Ready to Get Started?
Get a guaranteed quote from Federal Title — attorney-led, consumer driven since 1996.
