Getting A Mortgage Is Getting Easier

Getting A Mortgage Is Getting Easier

With increased credit availability comes increased purchasing power. Do you know what your options are?  (20% downpayment, 97% LTV (loan to value), 80/15/5, etc) 

Is Getting a Mortgage Getting Easier? | Keeping Current Matters

There has been a lot of discussion about how difficult it is to get a home mortgage in this market. There is no doubt that the process is not as easy as it was eight to ten years ago and that’s probably good news. However, it does appear that availability to mortgage money is increasing with each passing day.

The Mortgage Bankers’ Association publishes the Mortgage Credit Availability Index(MCAI). According to their site the index is “a summary measure which indicates the availability of mortgage credit at a point in time”. As we can see from the graph below, mortgage availability has been increasing dramatically over the last six months.

Mortgage Availability | Keeping Current Matters

Accompanying the latest index was this comment from Mike Fratantoni, MBA's Chief Economist:

"A number of factors contributed to a loosening of credit in March: Freddie Mac's introduction of their 97 LTV program (Fannie Mae's was implemented in December) [and the] additional loosening of parameters on jumbo loan programs… Although credit remains tight by historical standards, this increase in availability, coupled with low rates and job market strength, should lead to stronger home purchase activity this spring."

Bottom Line

If you have remained on the sidelines regarding homeownership because you were concerned about your ability to qualify for a mortgage, it may be time to get into the game.  

content courtesty of keepingcurrentmatters.com

Contact me if I can help you get in touch with a great mortgage lender and find the right type of financing that fits your needs.


www.avmhomesforsale.com


Adam Moysaenko REALTOR / MBA
Exceeding Expectations

5700 Tennyson Pkwy Ste. 170 Plano, TX 75024
Direct: 972-757-7000 Office: 972-836-9295 Ext. 571 

 



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Phone: 214-282-7340
Dated: April 13th 2015
Views: 650
About Felicia: Felicia has been in the Real Estate profession for many years. She was born and raised in the DFW a...

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