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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
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.
Marita Donohue Prudential Fox & Roach Realtors 601 E. Baltimore Pike Media, PA. 19063 610-627-4902 610-566-3000 Fax: 610-566-8664 Email: Marita@MaritaDonohueTeam.com
ˇAssociate Broker
ˇFull Time Realtor
ˇCRS (Certified Residential Specialist)
ˇSRES (Seniors Real Estate Specialist)
ˇ97% of all my business comes from referrals of past clients
ˇ25 Years Experience
ˇ2003, 2004, 2005, 2006, 2007 Top of the Rock Award Winner
ˇTop 1% of all Prudential Agents Nationwide
ˇMedia Marketing Center Office Top Producer for many years
ˇNumerous Company Production Awards
ˇIn-Depth Knowledge of Schools and Neighborhoods
ˇStrong negotiating skills
ˇTeam of fully licensed real estate specialists who provide superior customer service
The Marita Donohue Team: Marita Donohue; Team Leader. Suzy Hoyle, Christina Mikus, Theresa Hagman, Jeanne Padula, Kathy Baldwin; licensed agents.
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