Tucker Mortgage Offers Reassurance on Mortgage Market

Indianapolis – While the national news media have been dominated by reports of a “mortgage crisis,” as a locally based lender Tucker Mortgage wants to reassure prospective borrowers that the Indianapolis area is not experiencing the kind of disruption people are reading and hearing about. There is an ample supply of mortgage credit and Tucker Mortgage continues to make mortgage loans at competitive rates. In fact, with home prices leveling off locally, central Indiana is experiencing a buyers’ market making now a good time to consider purchasing a new home.

Borrowers should not be dissuaded from a home purchase or refinance based on national reports of a mortgage credit crunch.

• Tucker Mortgage has plenty of mortgage credit available for borrowers. As a partner with F.C. Tucker Company, Tucker Mortgage has access to the most reliable sources of mortgage credit and can lock and close loans for our customers with confidence.
• Much of the mortgage market turmoil has occurred because of risky lending in the sub-prime mortgage market and the proliferation of risky loan products. As a traditional mortgage banker, Tucker Mortgage did not engage in this kind of lending and therefore are far less affected by the national mortgage crisis.
• Tucker Mortgage offers borrowers a variety of financing options, but is committed to high lending standards that result in better loans for borrowers and less risk for the company. Loans offered are government insured FHA loans, as well as loans backed by Fannie Mae and Freddie Mac and the nation’s most secure investors.
• As a result of the challenges in the mortgage environment, there are some changes that borrowers should expect no matter what lender they patronize. Borrowers can expect a return to more traditional underwriting standards, including down payment requirements and verification of income. However, there are still a variety of loan products available that provide flexibility to suit the needs of most borrowers.

The National Association of Realtors® and Tucker Mortgage are working with Congress in Washington to ensure that the nation’s mortgage finance system remains a stable, reliable, and affordable source of mortgage credit. We support strengthening FHA, increasing the supply of mortgage capital available through Fannie Mae and Freddie Mac, and other steps to keep the American dream of homeownership as vibrant as ever.

Tucker Mortgage, LLC, is part of the F.C. Tucker family of businesses, which offers a full range of real estate services. F.C. Tucker Company is the largest independent real estate firm in Indiana, and is ranked 25th largest independent real estate firm in the country.

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