Changes in the housing and mortgage industries have prompted many people, including the media, to wonder: "Can you get a loan today?"

The answer is simple: Yes!

Despite the negative headlines over the past year, there's actually plenty of money available for loans. In fact, reports indicate that over $2.7 Trillion in loans were originated in 2009. That's over $1 Trillion more than 2008.

However, mortgages must make sense in today's terms – not the looser standards permitted by lenders a few years ago.

What does this mean to borrowers today?

Lenders have returned to a pre-2000 mindset – a kind of "common-sense lending" that seeks long-term success versus short-term profits.

That means lenders need documented evidence that a borrower is creditworthy and is likely to repay the loan. This creditworthiness is based on the four tenets of lending: the borrower's ability to pay, willingness to pay, equity in the transaction, and the property itself.

With interest rates still near all-time lows and lower home prices, it's worth the time and effort to find out if you can benefit from common-sense lending in today's real estate market.