There are many new regulations that are making it a little bit more difficult to buy a home. While the subprime mortgage crisis is history for most Americans, federal regulators have implemented new rules to avoid this housing meltdown again. The economy and the housing market have both stabilized in most markets across the country you regulations still are very strict.
In looking at different related data when it comes to housing and the mortgage industry. An article by 24/7 Wall Street talked about 10 different ways in which buying a house in America is more difficult than it was before the crisis. This is not to get you frustrated or discouraged but it is important to understand the obstacles you may face when buying a home.
It cost a little bit more to originate alone than before. This is due to regulations that there are more administrative services, paperwork, and time involved. This is also turned into longer waiting times for borrowers.