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Friday, September 6, 2013

Home loans are harder to get than they've been in years

Home loans are harder to get than they've been in years. Stricter new rules starting next year could add to the stress. Mortgage rates are rising, and while there have been some signs of a lending pickup in the strengthening housing market, banks are still making one-third as many loans as they did before the housing crash.
So how do you get a mortgage to buy or refinance your home? And should you rush to get a loan approved now before it gets harder?
1. Don't change jobs if you can avoid it.
2. Try smaller, community lenders.  

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