With all the uproar in the mortgage industry, I'm seeing a swift return to the way things were done in the old days. If you've been thinking of snagging an easy loan at a good rate with a lender's simply running a quick check of your credit score, those days are gone.

Back in the 1970s and 80s it was normal for lenders to ask borrowers to provide reams of documentation for every little thing. If your grandmother is giving you $5,000 toward your down payment, besides a gift letter, Granny had better be able to prove that the money has been sitting in a bank account for a while. If you are self-employed, be prepared to produce business and tax documents to prove what you say. It will seem that your lender is prying into every aspect of your life.

And actually, why not? If you were loaning someone many thousands of dollars, wouldn't you want to know just about everything you could about them? It's this lack of looking that has caused us this mortgage mess in the first place. (I won't go into the crooks that have been abusing the system.)

One of the best tried and true loans is the FHA loan. It's been around forever, and it's not exactly sexy compared to so many other packages that lenders promoted in the past few years. Yes, you will have to jump through hoops with paperwork and it might take longer to close, but the loan is insured by the government and it can offer more flexibility when it comes to proving your ability to repay the loan. In other words, it can be a terrific option for first-time buyers and people with little credit history.

One thing to look at is your debt ratio. For an FHA loan, your total debt payments every month, including mortgage, car payments, credit card payments, etc., cannot exceed 43 percent of your total gross income. And there are limits to how large a loan FHA can handle. Right now in Wake and Johnston Counties the limit is $295,000. In Durham, Orange and Chatham Counties, the limit is $331,250.

But it's a good loan. If you or someone you know could use my help in this regard, please contact me. I'll be happy to help.