With so many houses on the market and more projected to arrive within the next few months, the prospective buyer should have no problem finding the house of their dreams. Unfortunately, finding the right house is easy; getting the financing is the nightmare.
If you are in the housing market and you don't have a pre-approved mortgage, now is the time to find one. With so many people looking to pick up the bargains, without financing already in place you will not have a good chance to buy anything.
If you have bad credit it is still possible to get a mortgage, you will pay a higher interest rate, but with interest rates at an all time low, a higher interest rate may not be as crippling now as it could have been even five years ago.
Make sure you seek advice from all possible avenues before signing any documents. It may take longer to get a loan, but better to be fully informed of all the consequences than get into financial difficulties in the future.