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 email@example.com
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 HeadlinesCaptured: Mexican Nationals found on Foresthill RoadA Placer County Sheriff's deputy just arrested the three men who've eluded capture since Wednesday afternoon.
Water Supply Projection by Water Agency GMAUBURN, Calif. - Following weeks of rain and snowfall, the Placer County Water Agency (PCWA) Board of Directors met on February 4 to receive the latest snowpack and water supply update.
3 Rocklin Restaurants Hit by BurglarRocklin, CA - On the morning of February 4, 2016 between the hour of 1:30 AM and 2:30 AM, three closed take-out style restaurants
Roseville Housing Authority Nabs Highest HUD RatingRoseville, CA- For the 11th consecutive year, the U.S. Department of Housing and Urban Development (HUD) named the Roseville Housing Authority
Local Woman Honored for Cancer AdvocacyRoseville, CA - Former educator and Granite Bay mother of three Laura Tyrrell was honored at the Stars of Advocacy Inaugural Gala Fundraiser.
New California Laws for 2016 (Part 33)Roseville, CA - New California laws for 2016. Part 33 includes Medical marijuana, Real estate investments, Housing standards, Disorderly conduct, Housing standards: mold, and more.
PET/CT Mobile Imaging Unit to serve Roseville Area CommunitiesA state-of-the-art PET/CT mobile imaging unit designed to serve patients in Lincoln, Rocklin, Roseville and surrounding communities is located in Lincoln.
The Addams Family at Folsom Harris Center The Addams Family which will run February 19-28, 2016 at the Harris Center in Folsom, California.
Respected Fishing Expert in Auburn on February 19thThe Rooster Tails Fishing Club second breakfast of 2016 will be held at the Auburn Elks Lodge on February 19.
Mexican Nationals Wanted on Weapons ChargesThe Placer County Sheriff's Office arrested Pedro Madrigal Ortiz, 25, a Mexican national, early this morning
New California Laws for 2016 (Part 32)Roseville, CA - New California laws for 2016. Part 32 includes Workers' compensation, Consumer protection, California Community Colleges, Discrimination, erroneous conviction and more.
Sutter Medical Center Foundation New Board MembersRoseville, CA. - Sutter Medical Center Foundation has announced the addition of six new community members to its Board of Trustees.
NEWS: In Case You Missed It