The article goes on to say that in reality, "Under government-backed programs, first-time homebuyers with subprime credit scores can get a mortgage insured by the Federal Housing Administration, and they can put down as little as 3.5 percent of the purchase price." The article, which references survey results published in a press release distributed by Wells Fargo on Monday, September 15, 2014, states, "Nearly two-thirds of respondents thought that a very good credit score was necessary to buy a home, and more than 40 percent thought they needed a down payment equal to at least 20 percent of the purchase price to buy a home." Ruedy, the myths are preventing many first-time homebuyers from the benefits of home ownership and low mortgage interest rates.Īn article published by on Septementitled Wells Fargo Finds Mortgage Myths Hamper Home Purchases says, "Getting a mortgage in the United States may be easier than many borrowers think." Ruedy, also known as The Home Loan Arranger, realizes that many potential home buyers are dissuaded from buying a home because they are misguided by common mortgage-related myths that have been circulating in the United States for the past several years. Jason M.Denver, Colorado (PRWEB) Septem- Mortgage Banker, Jason M. ![]() Ruedy is ranked #2 in the state of Colorado by Scotsman Guide, which is the top leading resource for mortgage originators.įor media inquiries, please contact Mr. Ruedy is successful in achieving loan closings for clients while meeting their highest expectations. The Home Loan Arranger evaluates client applications quickly and efficiently and structures loans with the best possible terms. His company was built around the crucial principles of hard work, discipline, and determination. Ruedy, also known as The Home Loan Arranger, has 20+ years of experience in the mortgage business. The combination of the new mortgage guidelines and low interest rates equates to an excellent opportunity for potential home buyers to finally purchase a home." - Jason M. "Now is the time for anyone who was previously denied a mortgage to try again. Ruedy believes that the revised guidelines should be a big positive for the real estate market as a whole. As stated in the abovementioned article, "Tight credit has been blamed for slowing the housing recovery." Therefore, Mr. Ruedy is encouraged by the new lending guidelines because he believes it will help the real estate market continue to recover. With the ease in lending requirements, it will be possible for many prospective home buyers to qualify for a mortgage while interest rates are still at an incredibly low level." - Jason M. ![]() "This is great news for people who have basically been shut out of the real estate market because they have a less-than-perfect credit score or a down payment of only three or five percent. But banks are expected now to relax some of their credit requirements and give prospective borrowers more consideration, particularly those whose credit score took a hit because of one-off events, like loss of a job or a single large medical bill." Tight credit has been blamed for slowing the housing recovery. ![]() That may include a quicker turnaround time for mortgage applications."Īdditionally, the article also states, "Demand for loans and the credit worthiness of borrowers have also forced banks to pull back on lending. Don't Put Your Loan In Danger, Call The Loan Arranger! Post thisĪccording to an article published on Yahoo Finance on Decementitled Getting a Mortgage is About to Get Easier,"Borrowers may see changes in the lending process within weeks.
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