Need a Loan?

The credit crunch is reaching Main Street. How it might affect you

David Burnett / Contact for TIME

Mortgages

Mortgage rates are just about where they were at the start of the year--and historically speaking, a 6% loan for a house isn't that bad. The trick is getting approved for one. A borrower with a 680 credit score who a year ago could have gotten by with a 5% down payment might now have to pony up 15%. And good luck if you want a jumbo loan (above $417,000 in many areas), which now carries an average rate 1.3 percentage points higher than other mortgages, according to Bankrate.com That's more than a smidge above the historical quarter-point...

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