Did you know? Due to loosening credit standards, homebuyers may now find it easier than ever to qualify. Contact us today.
Credit standards are loosening: Buyers may now find it easier to get a mortgage
“According to new data from the Mortgage Bankers Association, it’s getting easier to get a mortgage. The MBA’s Mortgage Credit Availability Index rose by 2.1 percent in November, a move that’s ‘indicative of loosening credit,’ the trade group says. […] Jumbo loans also rose a significant amount, jumping by 2.2 percent and marking an all-time high for these types of mortgages. On conventional loans, the index rose 1.4 percent. ‘Most notably, the jumbo index climbed to yet another record high, as investors increased their willingness to purchase loans with lower credit scores and higher LTV ratios,’ Kan said.”