You have signed a contract to buy your dream home and now comes the fun part of trying to get financing. If you have excellent credit, tons of money in the bank and have been on the job for twenty years, you will have absolutely no problem at all. But wait, you say, that is not you. The basic borrower has problems of some sort in trying to finance a home, whether it is credit or the length of time he has had his deposit in the bank.

Real estate financing is a big, multi-billion-dollar business, and the banks are fighting for your business. With all the foreclosures and the recession at our door, a smart buyer can name their terms. If you shop around and look for the best rates and then attack your loan like you would a “rattler,” you can be successful.

Knowing a few things that will be required to make a loan will help you.

1. You deposit must be in the bank for a minimum of two months. To get around this, you can get a gift of a deposit. Many programs at banks are utilizing this type of loan and basically, it is a simplified loan. All you do is get your grandmother who can prove she has had the money in the bank for 6 months, write you a gift letter. She gives you the money through her bank account. You can now prove you have your deposit “seeded.”

2. Credit is a requirement these days with all the foreclosures going on, and all banks are being really careful about who they are loaning to. To get around poor credit, you will need a co-signer, someone who has really good credit to aide you in securing the loan. The trick with a co-signer is that he must be able to show he is not deep in debt, also. So a strong co-signer must be able to qualify for the loan.

3. You must be employed for at least 6 months but preferably 2 years. There is no escaping this requirement, unless you can show that you left your previous job to go to a better-paying job with more benefits.