Mortgage options are still plentiful for borrowers with good credit scores and documented income.
There are still programs available, like FHA, that allow as little as 3.5% down payment, and many others that allow less than 20% down.
Jumbo mortgages are still available on loan amounts even in excess of $2 million dollars.
Vacation/second home financing can be obtained with as little as 10% down, even with jumbo mortgages.
There are "first time homebuyer" mortgages available at discounted interest rates and with reduced down payment requirements.
As of today, rates on most mortgages are still at the low end of the range when compared to the last 30 years.
Most homes are selling at a big discount relative to 5 years ago.
Make sure your friends and family know the facts! Owning the home of their dreams may not be as hard as they think.