The other day I was meeting with my new accountant and the subject of business loans came up.  He reminded me of something I had heard years ago regarding borrowing money from banks etc. 

A lending officer will never tell you that the bank is momentarily low on money.  Unfortunately for the consumer, they will still go through the qualification process which uses up time and might cost you money for a credit report etc. In the end, you will likely be told that you did not qualify for the loan and probably won't receive any idea why.

So don't give up!  Make sure you shop around for a lender who actually has money to lend at the time or, better yet get in contact with your realtor.  An active real estate professional will probably have some insight into which lenders are most active at the moment and might be able to save you valuable time and money.

It's unfortunate that we can't get honest straight forward information directly from the lender, but I guess it might not be good for future business if they were to let the word out that they are temporarily strapped for cash!

I f you are getting ready to apply for a home loan, ask people in the know before you set out.  As always, I can be reached by email, website, or phone (775) 901-0761.