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Real Estate Tips
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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Real Estate Trivia
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The smallest of Canada's 1000 Islands shares a name with a fairy tale hero. What is it?

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Tom Thumb
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Keith Fuller, REALTOR®, real estate agent and broker for Shelton, Union and Hoodsport, Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Keith Fuller
Windermere/Himlie

920 Railroad Ave.
Shelton, WA. 98584
Direct: 360-490-3811
Fax: 360-426-2698
Email: landman@keithfuller.com

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