If you have buying a home on your to-do list for the new year, you’ll be happy to hear that lenders have been easing credit standards and plan to continue to do so. According to Fannie Mae’s fourth quarter 2015 Mortgage Lender Sentiment Survey, 16% of lenders plan on easing standards in order to help with home affordability issues and limited inventory of starter homes on the market in many areas.
If you have tried to get a mortgage loan before but could not because of bad credit, please try again to see if things have changed for you. Interest rates are still low, but climbing.
Credit easing, downpayment assistance available
On a related note, studies have shown that home buyers overestimate the credit scores needed and the downpayment needed in order to buy a home.
All signs point towards buy:
- Low rates, but rising
- Easing credit requirements
- Downpayment assistance
- Rising rents
- Rising home prices
Start searching for your new home at firstweber.com or look for a Wisconsin real estate agent in your area of Wisconsin.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
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