Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times |
Rocklin and Roseville Today Local Events Calendar

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.

Print

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

View Lowest Gas Prices in RosevilleCheck daily to save money as we post the lowest gas prices in Roseville.

Hyundai Genesis: Quite an Impressive SedanRedesigned for 2015, the Hyundai Genesis features a roomier cabin, improved engines, better fuel economy, additional entertainment options, and offers all-wheel drive

Coping with Holiday StressHolidays can be filled with joy, laughter, family and good friends. But for some, the holidays bring on additional stress and seasonal "blues."

396 Years to Life for Roaming RapistDereck Jermaine Sanders known as the Roaming Rapist has been sentenced to 396 years to life in prison.

Seniors First's Cafés Nourish Bodies and SpiritsDuring a rainy winter, when inclement weather can preclude a trip to the store or local food closet, it's important to remind the elderly and their families that there are local options available

Business Executive Fighting Lou Gehrig's DiseaseAbout five years ago, Todd Neva, now of Hancock, Michigan, began having trouble lifting his daughter from her carseat. Over time,

$226,278 Raised in Dutch Bros. Buck for Kids DayOn Friday, Dec. 5, Dutch Bros. Coffee and customers banded together to raise $226,278 for children on the company's annual Buck for Kids Day.

Roseville 5th Graders Provide Inspiration to PatientsEach month, fifth-grade students from Stoneridge Elementary School's Leadership Club visit Sutter Rehabilitation Institute (SRI) in Roseville to visit patients.

Rocklin Unified's Beleaguered Special Ed Program Seeks ChangeThe Rocklin Unified School District has contracted with WestED to perform a study on its beleaguered Special Education department.

Roseville Charity Hearts that Care Partners with Placer SIUOn December 17th, 2014, The Placer County Special Investigation Unit (SIU), a Placer County Law Enforcement Task Force comprised of State and local Placer County law enforcement

Roseville Crime Report Digest Update (12.19.14)Crime report digest update for Roseville California, December 19, 2014

Food for 400,000 Meals Raised for Placer Food BankThunder Valley Casino Resort and Whitney Oaks Golf Club have collected over 50,000 pounds of food for Placer Food Bank food drive.


more news