Wondering if now is the time to buy a home? It could actually be a great time.

If you believe what you hear in the news, mortgage lenders aren't lending much anymore and it's almost impossible to qualify for a mortgage today. Let us set the record straight - we haven't stopped lending at Citi. Helping people afford the homes they want is our business.

Even better, interest rates and home prices are the lowest they've been in many years. That's not great news if you're a seller, but if you're in the market to buy this may be a great time to make that purchase. Whether you're a first-time buyer, looking to get into a larger home, or thinking about investment property, there's financing available.

You don't need to be stressed about getting a mortgage.

Mortgage lenders today are looking for potential borrowers who have good credit--not just perfect credit. If you can demonstrate that you have a track record of being responsible with credit, you're already a good candidate. Lenders look for applicants who have a history of paying their bills on time, not overextending themselves--and have funds set aside for a down payment and closing costs.

There's a misconception that you can't get a mortgage with a low down payment anymore. And that's simply not the case. In fact, there are down payment options starting as low as 3.5% on FHA loans. Depending on a number of factors, such as the amount you're looking to borrow and the type of loan you want, there are a variety of down payment options available.

Next, how much can you afford to borrow? When you're getting approved for a mortgage, lenders look carefully at your debt-to-income ratio. They want to be sure that your new mortgage payment--combined with your existing debt doesn't overextend you. There are calculators available on our website that can help you determine how much you can afford, the down payment needed, and much more.

Choosing the right mortgage.

So the question becomes: Which mortgage is best for you? There are a variety of mortgage products and programs to choose from, so take your time and weigh your options carefully. You can explore the 'Buying a Home' section on our website for more information, or use online 'chat' to instant message your questions to a mortgage consultants 24 hours a day, 7 days a week. We're here to help.

Get Pre-approved Before You Start Home Shopping

 When you are ready to start house hunting, you should consider getting pre-approved. Getting a conditional preapproval is a good idea for two reasons: 1) You'll know up front exactly how much home you can afford and 2) Home sellers and real estate professionals will know you're a serious buyer. In fact, most sellers prefer (and some even require) mortgage pre-approval before they'll accept an offer. Our SureStart^® preapproval program gives buyers and sellers alike the confidence to know the deal is possible.

© 2011 Citibank, N.A., equal housing lender, member FDIC. Citibank, Citi and Citi with Arc Design are service marks of Citigroup Inc.

© 2011 Citibank, N.A. This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit and property approval. Certain restrictions may apply on all programs. Offer cannot be combined with any other mortgage offer. Citibank, N. A., equal housing lender, member FDIC. Citibank, Citi and Citi with Arc Design are service marks of Citigroup Inc.