About the Rehoboth Beach, Lewes and Milton, Delaware Area
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Financing Your Home >Lenders Want to Say Yes
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.
How did actress Jayne Mansfield decorate her Hollywood "Pink Palace" without buying any furniture?
A
She wrote to furniture suppliers asking for free samples, telling them they could brag that their furniture was in her outrageous mansion. She received over $150,000 worth of free merchandise.
My focus is on personalized service. I listen very carefully to my clients so that I can assist them with their needs and wants and make every transcation as smooth as possible.
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Rehoboth Beach, Lewes and Milton, Delaware