Check Out Our Affiliates! 

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.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Sherry Wilson & Co.
RE/MAX Leaders
1021 East Main Street
Purcellville, VA 20132
Phone: 540-338-6300
Fax: 540-338-4916
Email: sherrywilson@NUMBER1EXPERT.com

All agents are NOT alike! Find out why I am a top real estate expert.

www.RealEstateinLoudounCounty.com is brought to you by Sherry Wilson & Co.
NUMBER1EXPERT™ in real estate for Ashburn, Leesburg and Loudoun County, Virginia

Read Sherry Wilson & Co.'s Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge