Broker Blog

Lending Restrictions Loosen


Lending Restrictions Loosen
For those of you who have recently purchased a home you are  likely familiar with the lending constraints that home buyers face today.  The process can seem downright invasive!  The current regulations are, in my opinion, a government overreaction to the seemingly non-existent lending guidelines from the last housing boom, built on risky credit and under collateralized loans.

Finally, the over zealous years of tightening lender requirements things are starting to stabilize.

 The avg. credit score required for a mortgage has stabilized at 700.  This is higher than prior to the crash but  has stopped constricting. Also, banks are now lending up to 3.5 up from 3.2 times the borrowers earnings.  Finally the loan-to-value ratio (the amount of a mortgage as a percentage of the total appraised value of the property) was as low as 74% LTV in the mid-2010s, is now at 82% LTV.

 What does all this mean...buying a home is getting a little easier!

 Its a great time to buy!

 Terry RobertsOwner/Broker
RE/MAX Landmark


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RE/MAX Landmark Rose - Canton
430 S Trade Days Blvd
Canton, TX 75103
RE/MAX Landmark - Terrell
113 N Frances St.
Terrell, TX 75160
RE/MAX Landmark - Rockwall
2850 Shoreline Trail, Suite 100
Rockwall, TX 75032
Office: 972-771-7575

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