Chitownproperty

Buyers that got off the sidelines and into the game — chicagotribune.com

The Tribune’s Mary Ellen Podmolik profiles a couple buyers who decided to take the plunge in the recent unsteady market. How did they do it? The old fashioned way. Mortgages are still available for buyers who qualify under traditional rules (steady employment, good credit history) and can put at least five percent down, if not more.

One couple Podmolik mentions, first-time buyers, adjusted their expectations as to how big of a house they could afford and made sure they put down as much money as possible. Another man, who qualified for a jumbo loan, had to put down at least 25 percent and pass a number of checks on his employment history. The point is that you can buy a home now, as long as you can truly afford it.