Is it Easy to Get a Mortgage?

With interest rates under 5%, is it easy right now to get a mortgage? Going through the mortgage approval process hasn't been easy these last few years, due to lender tightening and underwriting scrutiny. Aside from requiring mounds of documentation, large down payments and sterling credit scores, conforming lenders now want more of the buyer's money.

Even though interest rates are low, the borrower's cost of financing has increased recently due to new Fannie Mae and Freddie Mac add-ons to cover the cost of perceived risk factors. Click here to read more on this article by Dian Hymer.