Obtaining financing in today’s market

April 2, 2008

I wanted to respond to some skepticism about my last posting from some who have been frustrated by the financing process. If you have a job and a decent credit score but are still struggling to get financing, I would advise you to talk to more than one loan officer or lender. The Wells Fargo lender we use at Marnella Homes is still offering financing up to 100% and agrees with my assessment of the local market.I stand behind my previous comment when I said that the people who cannot get financing today are those who truly can’t afford to buy a home. The poor lending practices that gave these people loans in the past stretching them way beyond their means are the reason we’re hearing about the woes in the lending community today. Our homes are still selling and the only people that are not getting financing are those with bad credit, not enough income to afford the monthly payments or zero money for a down payment. However, those who can improve on anyone or a combination of these three issues can get financing through our programs.For those of you struggling to get the financing you need to buy a home, I encourage you to seek out several of the many competent loan officers out there that work for lenders who can help you. Best of luck and please let me know if we can help.

Thanks,
Tony

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