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Shopping For A Mortgage Loan? You Have More Options Than You Think.

Tight lending standards have been the norm for almost a decade. When it comes to irresponsible borrowing and lending, of course, that’s absolutely a good thing. But what if you’re a responsible buyer with education debt, or limited savings, or a mid-level income? Can a person like you become a homeowner?

The answer is a resounding yes.

The imperfect buyer
You might not fit the exact profile of an ideal borrower — but these days, not many people do. Just look at Millennials, who now make up about half of all homebuyers. Gen Y is a generation burdened with student debt and still recovering from entering a recession-torn job market.

Mortgage lenders know all about the challenges today’s buyers are facing, and they’re coming up with creative loan products that meet those needs.

Compared to a few years ago, the average credit score for approved mortgages has fallen, and fewer mortgages are being denied. Combined with still-low mortgage interest rates, today’s lending climate has a lot to offer those looking to purchase a home — and a large variety of available loan product options can help homebuyers zero in on the terms that benefit them most.

So if you’re a recent college graduate with a high income (and even higher earning potential) but limited savings, or if you’re a lower-earning professional with pristine credit, there may be a loan out there that’s just right for your situation.

There’s a mortgage loan for that
Some of today’s loan programs offer no down, low down payment options, and down payment assistance. There are also programs designed specifically for veterans, people who live in certain locations, and even people who have specific careers.

A great way to sort through all of your options is to talk to someone who knows those options inside and out. Schedule a free, no-obligation consultation with an Peak mortgage advisor to learn about all the different loan programs we offer — and find a mortgage that works for you. Contact us today!



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