Mutual Funds And Personal Finance

Loans Are Available, But Harder To Get

Think the credit crisis, spawned by the implosion of mortgage-backed securities, means that home loans are out of reach? Think again.

You can still get a loan to buy a home or refinance an existing mortgage. But in some cases it's harder, and it's more difficult to qualify for the best interest rates.

There were 4.91 million home sales in August, according to the National Association of Realtors. "The overwhelming majority were financed by mortgages," said Lawrence Yun, chief economist for the NAR.

Lenders are also still refinancing existing loans.

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