If you wish to buy a home but consider yourself incapable of getting credit, you may be living in the past in terms of assessing your financial situation. Lenders have become more flexible in underwriting mortgage loans.

A recent survey of mortgage lenders revealed some interesting trends. Ninety-six percent of those surveyed had cut their standard down payment requirements for moderate-income buyers, and 93% said they are more lenient regarding debt-to-income-ratios. Ninety-four percent of those surveyed said they now have more flexible approaches to credit histories, and look at rent and utility payments more than credit cards. Seventy-nine percent of lenders say they have relaxed employment criteria. They now look more at your capacity to generate a stable flow of income rather than requiring a long history at one job.

There are more lenders today, and they are in fierce competition with each other. The home loan industry has created entire markets that cater to those with less-than-perfect credit.

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Karen Richards Group
RE/MAX Premier Properties
5501 Independence Ste105
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My Personal Mission as your professional real estate advisor, is to focus on your satisfaction. My business is all about service and I am not happy until you are happy. My years in the business have provided me the experience to assist you with nearly every real estate need. Whether it's finding you a home, finding the best loan, or helping you to get the most out of selling your home, I am here to guide you. If there is anything you need, please let me know. International R.E. Specialist- Certified Luxury Home Marketing Specialist (CLHMS)- Real Estate Cyberspace Specialist (RECS)-GREEN, National Association of Realtors- Certified Residential Specialist (CRS)- Graduate Realtor Institute (GRI- Accredited Buyer’s Representative (ABR)-Accredited Staging Professional (ASP)- Certified New Home Specialist (CNHS)- Residential Construction Certified (RCC)- Member Children’s Miracle Network- Platinum Club RE/MAX National

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