The Times-They are a changing!

Lending standards have been changing and if you are thinking about purchasing your first home you should obtain loan qualification for your mortgage before you start looking. Greater down payments are now required and better credit scores. No more “stated income” or “stated assets” so be prepared to prove what you have and what you earn! The new FHA soft jumbo loan could be a good alternative but do all your homework before you commit to anything!
If you are worried that the property value will drop after you purchase you might consider this.
The cost of capital is important! Even if prices do drop significantly-which here in Irvine doesn’t seem too likely-interest rates could increase, eliminating any savings!