If you wish to buy a home but consider yourself incapable of getting credit, you may be living in the past in terms of assessing your financial situation. Lenders have become more flexible in underwriting mortgage loans.

A recent survey of mortgage lenders revealed some interesting trends. Ninety-six percent of those surveyed had cut their standard down payment requirements for moderate-income buyers, and 93% said they are more lenient regarding debt-to-income-ratios. Ninety-four percent of those surveyed said they now have more flexible approaches to credit histories, and look at rent and utility payments more than credit cards. Seventy-nine percent of lenders say they have relaxed employment criteria. They now look more at your capacity to generate a stable flow of income rather than requiring a long history at one job.

There are more lenders today, and they are in fierce competition with each other. The home loan industry has created entire markets that cater to those with less-than-perfect credit.

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The Di Lewis Team
Prudential Americana Group, Realtors
871 Coronado Center Dr., Suite 100
Henderson, NV 89052
Phone: 702-566-5827
Fax: 702-565-7563
Cell: 702 824 2188
Email: di@dilewis.com

Di & Mike are married with four daughters and four grand children and live in Lake Las Vegas. Di was born in Australia and has been a U.S. resident since 1985 and is a US citizen. Prior to practicing real estate, Di & Mike owned and operated an international textile corporation specializing in home furnishings, with offices in New York, Hong Kong and Australia. They have extensive experience dealing with foreign nationals and Di knows what it's like to move from one side of the world to the other. Real Estate designations held include: GRI (Graduate of the Real Estate Institute) ABR (Accredited Buyers Representative) e-PRO (Certified Internet specialist). Mike was born in New York and has holds a BBA from Adelphi University and is is a New York CPA. Mike is the team manager and brings a wealth of financial management and administrative experience to the team. Mike specializes in commercial real estate and is currently a CCIM candidate.

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