While owning a home may seem like an impossible dream for many, most Americans still hold onto hope that one day there will be able to purchase their own home. Getting a mortgage is not nearly as easy as it once was however it is still possible. He prepared to have to provide lots of documentation, W2 forms, and pay stubs. Mortgage companies are under intense scrutiny to make good loans and still provide the lowest mortgage rates possible. If your credit is damaged, you still may be able to qualify for a mortgage but you will do so at a higher interest rate. Still if you can handle the initial interest rate and can prove that you are again creditworthy you can always refinance somewhere down the road. The important thing is that if you want to own your own home you still can. There actually may be no time like the present to find affordable housing because of the mortgage crisis of 2008.