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Financing Your Home >Lenders Want to Say Yes
If you wish to buy a home but consider yourself incapable of getting credit, you may be living in the past in terms of assessing your financial situation. Lenders have become more flexible in underwriting mortgage loans.
A recent survey of mortgage lenders revealed some interesting trends. Ninety-six percent of those surveyed had cut their standard down payment requirements for moderate-income buyers, and 93% said they are more lenient regarding debt-to-income-ratios. Ninety-four percent of those surveyed said they now have more flexible approaches to credit histories, and look at rent and utility payments more than credit cards. Seventy-nine percent of lenders say they have relaxed employment criteria. They now look more at your capacity to generate a stable flow of income rather than requiring a long history at one job.
There are more lenders today, and they are in fierce competition with each other. The home loan industry has created entire markets that cater to those with less-than-perfect credit.
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| Q |
Into what category do forty-four percent of home buying households fall?
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| A |
Forty-four percent of home-buying households are made up of married couples with dependents. |
See More Real Estate Trivia > |
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Art Hudson Century 21 Mountain Lifestyles 640 Greenville Hwy Hendersonville, NC 28792 Direct: 828-606-1671 Fax: 828-693-7297 Office: 828-692-8275 Art.Hudson@centuyr21.com FaceBook: Art Hudson
Member of the "Master Sales Society" and a graduate of the "Master Sales Academy" in Chicago Illinois January 2009. I subscribe to the following:
1. Live by the "Get By Giving" philosophy
2. Make my client's goal my #1 goal
3. Live up to my standards, despite temptations to lower them
4. Be willing to work toward the common good
5. Do what I say I will do, sometimes more,just never less. 
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