Yeah, HGTV is pretty much a lie when it comes to how easy it is to buy a house now. I think a lot of it though has to do with the fact that many of the shows have episodes that are several years old, and the housing market and lending standards were a lot looser then.
It's changed a lot. Basically you need nearly perfect credit, or really good credit +20% down, or a house that's nearly perfect so it can qualify for an FHA loan. It's crazy how hard it is, and the standards seemed to tighten up each week. One week we could qualify for a 10% down loan - the next we had to have 20%, and now, I don't think even with as good of credit as we had, we have a high enough rating to qualify for the loan one month later.
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Yeah, HGTV is pretty much a lie when it comes to how easy it is to buy a house now. I think a lot of it though has to do with the fact that many of the shows have episodes that are several years old, and the housing market and lending standards were a lot looser then.
It's changed a lot. Basically you need nearly perfect credit, or really good credit +20% down, or a house that's nearly perfect so it can qualify for an FHA loan. It's crazy how hard it is, and the standards seemed to tighten up each week. One week we could qualify for a 10% down loan - the next we had to have 20%, and now, I don't think even with as good of credit as we had, we have a high enough rating to qualify for the loan one month later.