I am asked this question all the time by clients and my colleagues, when will the housing crisis end?! Krista Franks of DSNEWS.com back on 01/24/2012 (For complete article click here) pointed in her article to the findings of the analytics firm, Capital Economics, who directed their attention to these three indicators: loosening credit, stabilization of mortgage lending standards, and the loosening of loan-to-value ratios by banks.
Yes, the loosening of credit by the banking industry will help the housing industry. Yes, the stabilization of mortgage lending standards is a good sign. Yes, the loosening of loan-to-value ratios will help make it easier for buyers to qualify for loans.
The banking industry is giving the longest green light we have seen in recent years. Buyers, who have been getting their ducks in a row, will find that it is paying off with banks that are more likely to give credit approvals. The housing market in 2012 is looking up!
For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search
That would depend on whether or not the spouses income is
ReplyDeleteto be considered in the mortgage. Even though their credit score may be low, the mortgage lender needs
to know if you can afford it on your own or do you need the additional income (if the spouse is employed).
. . The VA does not loan money for homes, it simply backs a portion of the loan.
. . Hope this answers your question.
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