Lenders loosening requirements bodes well for the future of Real Estate
Posted by Doug Smith on Wednesday, February 22nd, 2012 at 8:30am.
Wonderland Lake Boulder, CO
We continue to see sales activity far above what we have seen the last couple years in our Boulder Real Estate office and the news that banks are starting to swing the pendulum the other way and loosening up requirements is good news for today's home buyer. In the article by DS New they outline that lenders are decreasing the equity requirements and making slight adjustments to the credit score requirements.
Requirements will remain stringent but banks are coming into alignment with the true risk involved with a loan. These equity requirements are also based on today's dollars, which are far more realistic the then numbers used during the housing bubble
Greg Smith
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