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Could Be Easier For Renters To Buy





For many potential home buyers the most confusing part of the process is trying to get a loan.

Mortgage lenders want to make loans to people who have proven track records of paying their bills.  Without this history, getting a mortgage can be hard.  Adding in rental history to a credit score could make a big difference for potential homeowners according to a recent article in Businessweek.

Credit reporting company, Experian published a study on almost 20,000 people who pay their monthly rent on time. It found, before adding in rental history, 11% of those looked at had no credit file at all, which makes it almost impossible to get a mortgage.  After the history of rental payments was included, 59% had prime credit scores exceeding 700 points.  Another 38% had nonprime scores, while only 3% were considered subprime, which is less than perfect or short credit histories.

Two of the national credit bureaus, Experian and TransUnion, have begun incorporating rental payment data into credit files where it can be included in the computation of consumers' scores when they apply for a mortgage.  As more mortgage lenders start considering rental payment history in credit scores more people should be able to qualify for a mortgage and make the move from renting to homeownership.

If you or someone you know is considering buying or selling a home and have question about the process or current market conditions, please feel free to contact me.  I can be reached at the MagnumOne Realty office in Roseville (916-899-6571) or by email to juliej@jalone.com.

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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 Headlines

$96,000 Raised for Fallen Officers with Help of Dutch Bros.On Wednesday, October 29, Dutch Bros. Coffee owners in the Sacramento area banded together with the community to raise $96,697 to support the families of Sacramento Sheriff Deputy Danny Oliver and Placer County Sheriff's Detective Michael David Davis Jr.

Roseville Police Seek Suspect in Halloween Crime61-year-old Daniel Rosario is being sought by Roseville police in connection with an early-morning burglary, car theft and attempted assault on an officer

Roseville, Rocklin Among Top Choices for Young FamiliesRoseville and Rocklin are ranked among the top 10 places in Northern California for young families according to a NerdWallet report

Kings, Sacramento Community Break Ground on Arena Marking the culmination of a decade-long effort to build a new arena in Sacramento, today the community officially celebrated the groundbreaking of the new downtown Entertainment and Sports Center (ESC).

Roseville Hit and Run Reward OfferedRoseville Crime Stoppers is offering a $500 reward for information leading to the arrest of a wrong-way driver who crashed into another car and then fled the scene

Free Alzheimer's Caregivers Workshop at UC DavisOnline registration begins Nov. 4 for the UC Davis Mini Medical School, a series of Saturday classes ideally geared for foresighted middle-agers and novice seniors

Roseville California Crime Brief (10.29.14) Crime brief update report for Roseville, California October 29, 2014.

Halloween Safety TipsCostumes, jack-'o-lanterns, haunted house and scary ghost stories mark this time of year as all kids of all ages enjoy the spirit of Halloween

Memorial for Slain Officer to be Held in RosevilleThe memorial service for Detective Michael Davis, who was killed in the line of duty will be held Tuesday, November 4, 2014, at 10:00 a.m. at Adventure Christian Church

2,400 Volunteers Turn Out in Rocklin for Annual EventMore than 2,400 volunteers packed 520,992 meals for malnourished children around the world at a three-day event at William Jessup University in Rocklin.

Sinking Gas Prices Won't Last The U.S. average price of gasoline ($3.03/gal) continues its slide to levels last seen in December 2010... and today, more than one-half of the nation's gas stations offer regular

Dutch Bros. to Raise Funds for Fallen Officers' Families Dutch Bros. Coffee owners in the Sacramento area are raising funds to support the families of Sacramento Sheriff Deputy Danny Oliver and Placer County Sheriff's Detective Michael David Davis Jr.


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