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
Print This Article
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
Placer County News HeadlinesPolice Officer Killed: Gunned Down in Arden Way LotDeputy Danny Oliver, 47 a Sacramento County Sheriff's Deputy was killed in the line of duty while investigating a suspicious occupied vehicle within a business parking
California Housing Market: 2015 ForecastRealtor, Julie Jalone of MagnumOne Realty in Roseville, writes about the recent housing forecast or 2015 released by the California Association or Realtors and where the market is currently.
3 Killed, Alcohol Suspected in Deadly Sacramento CrashOn October 23, 2014 at approximately 2:24 p.m., an unknown male driver was driving a 2008 Chevrolet Tahoe on Howe Ave north of Burney Way at an unknown speed.
Nissan Rogue Features Many Enviable ChangesIn effort to attract more male buyers, Nissan reportedly decided to alter the exterior look of the Rogue in its 2014 redesign. Not a bad move. Most men don't
New Nursing Village Ribbon Cutting in RocklinRocklin, CA- Sierra College welcomed their long-running Nursing Program back to the Rocklin campus with a recent Ribbon Cutting ceremony.
Placer County Woman Dies: West Nile Virus ConfirmedPlacer County health officials are able to confirm that an Ophir woman, who passed away earlier this month, did indeed have West Nile Virus (WNV).
3 Teens Arrested in Burglary and Vandalism of Country ClubA Placer County Sheriff's detective apprehended three juveniles Thursday in connection with recent burglaries and acts of vandalism at the Auburn Valley Country Club.
Roseville Author Releases New Book NationwideROSEVILLE, Calif. - The new book "Resonance," a stimulating new book by Roseville author Emily Elaine is now available nationwide.
Genderally Speaking LGBTQ Exhibition in RocklinRocklin, CA--The Ridley Gallery presents "Genderally Speaking", photography by Ron Williams in conjunction with Sierra College Pride Days (November 4-6).
Rocklin History Series Presents Julia Morgan's GoldThe Rocklin History Series continues on November 16, 2014 with a live presentation by Julia Morgan Historian Karen McNeill Ph.D. at 2 pm at the beautiful Old Saint Mary's Chapel
Free Identity Theft Prevention Class in AuburnThe Placer County Sheriff's Office is offering a free identity theft prevention class on Monday, October 27, from 6 to 8 p.m. at the Auburn Justice Center.
Loomis Students to Learn About Pediatric Iron Lung for World Polio DayIn recognition of World Polio Day, Rotary Club of Sunset Loomis will bring a pediatric iron lung to Loomis Grammar School and Loomis Basin Charter School