Mortgage Loan Programs 2015

Over the years the mortgage industry has reduced the number of loan programs available to consumers.  Prior to 2008 there we’re many mortgage loan programs available to the consumer however a good portion of these mortgage loan programs we’re not suitable for most homeowners.  It’s one of the main reasons home prices jumped so significantly (prior to 2007) since potential borrower’s were now able to purchase homes they could not normally qualify for under a traditional mortgage loan program.  In 2015 the array of programs is not as wide as pre-2008 however the mortgage loan programs available today do provide enough options to the average borrower.  Mortgage loan volume recently has declined as home purchases have declined despite near record low rates.