I’ve heard of a case that shows how lenders are tightening up… and this might help you when looking for a Sedona home.  Recently, a self-employed buyer with 750+ credit score was trying to buy a Sedona home with 20% down.  A certain lender told the buyer that because the market is sliding, that he’d need to put an additional 5% down to secure the loan.  The buyer ended up shopping the loan with a few other local lenders and found one quickly who would lend money to him.  These tight restrictions are starting to affect us here in town, but if you look around, there are plenty of good local lenders to steer you though the process without a scratch.  This is just another reason to use local lenders when you buy a home in Sedona!