Lender Credit Requirements
If you have been reading my weekly local real estate column or my daily blog, "Keep it Real in Sacramento," you know I have been complaining lenders and saying until they relax the incredibly high standards they have set, we will not see a full housing recovery.
A recent report by Moody's promises improvements this year but makes a point, lending will remain tight by historical standards.
Restrictive underwriting conditions have been one of the main obstacles in the housing recovery. But the credit agency says that those conditions started to ease this year and likely will continue.
One of the driving elements of easing underwriting conditions is the rising home prices which give lenders more comfort in the value of their collateral. In addition we are seeing mortgage delinquencies decline.
The Moody's report goes on to say, "Being right-side up on the mortgage improves a borrower's credit profile. It also lowers the risk of default and increases the likelihood of trade-up buying."
If lenders work as hard to make loans as the did to decline them over the past few years, combined with low interest rates and rising prices, more families will be able to qualify for a mortgage. "Greater credit availability will help drive stronger home sales and stronger price appreciation and help keep the housing market and the larger economy on an upward path."
If you or someone you know is considering buying a home, a key element is the process is getting pre-qualified for a mortgage. Knowing you are qualified and understanding your price range will improve your house hunting experience as well as buying the home. If you have questions or need a referral to a good lender, give me a call at the MagnumOne Realty office in Roseville (916-899-6571) or send me an email to firstname.lastname@example.org
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Pet Care | Real Estate | Restaurants | Tech | View All | * Add/Upgrade Business
Placer County News HeadlinesNew California Laws for 2015 (Part 27)New California laws for 2015 part 27 includes health coverage, pharmacies, notaries, school employees, electricity rates, Medi Cal juvenile inmates, writ of habeas corpus and more.
50 Days of the Dead: SugareeWe return to magical May of 1977 to find the band doing an extended feel-good jam of the Jerry Garcia/ Robert Hunter classic Sugaree
Toyota Camry Hybrid: Better than ever?Toyota decided to redesign the Camry a mere three years after its last major transformation. The 2015 redesign is very significant and gives Camry even more of an edge.
Father Trying to Build UnderstandingJoseph Hernandez of Auburn, Washington, knew before his son's birth that his son would have a birth defect, spina bifida. The only thing in doubt was whether Joseph would hang around.
Former Placer County Sheriff Sentenced in Sex CasePursuant to a plea agreement, Kenneth Skogen was sentenced to three years formal probation and must serve 150 days in jail and attend counseling for unlawful sex with a minor.
50 Days of the Dead: Peggy-OThe perfect dose of intricate guitar work over a smooth rhythm section to a Scottish folk song in this 1978 version of Peggy-O at the Huntington Civic Center in West Virginia.
Roseville's Blue Line Arts Gallery Highlights Student ArtistsRoseville CA--At the recent reception for artists and members, Julie Hirota, CEO, Blue Line Arts, introduced the results of the Prestigious Crocker-Kingsley Art Competition
Roseville Mail Theft Leads to Arrest of 34 Year OldRoseville officers arrested a 34-year-old man from Sacramento on suspicion of vehicle theft, possession of stolen property, and other related charges
New California Laws for 2015 (Part 26)New California laws for 2015 part 26 includes smartphones, health coverage, rape victims, prisoners DNA testing, cocaine, nonprofits, healing arts, student financial aid and more.
Flu Blamed in Death of Placer County ManPlacer County health officials confirmed today that influenza is believed to be a contributing factor in the death of a Placer County man.
Roseville Man Facing Felony Charges in Death of ThreeAaron Caudillo has been treated for his injuries at Mercy San Juan Hospital and has now been released from the hospital and booked into custody into the Sacramento County Jail.
Roseville Violent Crime Rate PlummetsThe violent crime rate in Roseville declined 28% in 2014, according to Roseville Police.
NEWS: In Case You Missed It