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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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The Don Lawyer Real Estate Team
Keller Williams Realty
1301 South Bowen Road, Suite 125
Arlington, TX 76013
Office: 817-213-6510
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As Tarrant County's top real estate agents, Don Lawyer and his team have made a name for themselves by providing exceptional service and expert advice. With over two decades of experience and expertise, members of The Don Lawyer Team are proven performers. If you desire the very best in personalized service, you will appreciate the reassurance of knowing there is someone to take your call if you have a question. The Don Lawyer Team stays in touch with their clients, and they do the little things right. Call or email them today!

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