Banks Have Money For Boulder Real Estate Buyers
If you’re thinking of buying Boulder real estate, but wonder if you can get a loan, don’t worry; according to a recent associated press article and several other recent press items, banks have plenty of money to lend.
Please call me or email me soon If you’re thinking of buying real estate. I can help you understand where to look for the money you need and the home you want.
You’ve heard that billions of dollars are flooding the nation’s financial system, the word is that credit markets are loosening and banks are ready to lend, but the trouble seems to be that borrowers aren’t applying for loans.
A banker in New Jersey is apparently taking out ads in local newspapers trying to get borrowers to come in and apply for loans. He’s said that loan demand in his town of Cherry Hill is down by about 50%.
William Dunkelberg, a chief economist for the National Federation of Independent Business, says that the credit crunch isn’t in banking, but rather, it’s a Wall Street problem. He also says that the demand for small business loans are down.
I think that’s part of the problem. Small business owners are concerned about their ability to predict cash flow each month, and consequently wary about stepping up for loans they can otherwise put off for now.
So, when people ask me if it’s hard to get a loan, my answer is generally ‘no’, and I think the banks would readily agree. If you have a steady job, good credit and can put some into the transaction as a down payment, loans are available. We’ve just gone back to the normalcy of lending as it was back before the sub-prime lending boom of recent years.
If you’re thinking of buying or selling real estate and want to know where the money is, or have other questions about real estate, please call me or email me right now for straight answers and information.
-Zachary Epps, full-time, professional Realtor® and EcoBroker®
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