Is The Mortgage Situation Improving?

After the credit crisis and the housing market crash, it was very difficult to get a loan.  I think this is one of the reasons for the malaise in the housing market during that period of time.

However, a recent article on CNBC.com indicates there is a bit of easing in the mortgage market.  The article indicates lenders are beginning to me more accepting of "average loan candidates."  The last several years saw the majority of loans being made out to borrowers who put down at least 20% and had an average credit score of 760, according to the article. 

Seemingly, lenders are now making more loans to borrowers who do not have all of the criteria listed above.  Maybe they are putting down less than 20% with a mid-700 credit score or have a credit score a bit under 760 with 20% down.  Apparently, some lenders are willing to finance 95% of the home's value as PMI insurance is becoming increasingly available.  Federal Housing Administration (FHA) insured mortgages are also increasing in popularity.

I have relationships with mortgage professionals who are willing to work with my customers with no obligation.  Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

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