We are seeing a few signs of the loosing of loan criteria. The main one is from the PMI companies. You may not know but several of them went out of business during the credit crunch we have experienced. The ones that are left have just been making things difficult. Now one of them has emerged and decided to go after business. They are cutting rates and making the guidelines a little better. That should start forcing their peers to adjust also. Let’s hope so. In the meantime we are using one time upfront mortgage insurance a lot. If someone has good credit scores and 5% for a down payment it is a better option than FHA.
If you want to check it out more, or would like to talk about what we can do for you..email me at george.margrave@migonline.com for more info or give me a call at 777-4663.
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