According to a recent CNN Money article, despite low interest rates, potential borrowers are still experiencing severe difficulty in securing loans.Highly qualified borrowers are the only sector being approved for loans, and are receiving the best rates. These denial rates are leading to many would-be loan-seekers abandoning the process and assuming the worst.”A lot of people know it's very difficult to get a mortgage and they're not even trying,” Alan Rosenbaum, CEO of New York-based mortgage broker GuardHill Financial, told the source. And for those that are, according to Lawrence Yun, chief economist for the National Association of Realtors, even “good borrowers with one or two blemishes on their credit are being denied credit.”Also dissuading many potential borrowers is the increased amount of cash necessary upfront. According to CNN's article, the median down payment has increased to roughly 15 percent of the entire loan. Many banks, however, want 20 percent. Thus, for young homeowners looking at a house valued at $200,000, $40,000 is necessary upfront – a steep hurdle for many first-time buyers.One real estate expert estimates that the tougher direct lender market has eliminated nearly 30 percent of the would-be homebuyers.Thus, as the article concludes, until loans are easier to access, the housing market will continue to see mediocre gains and success.?