My New Blog

March 25th, 2008 10:38 AM
 
Good Morning Everyone,
 
Fresh on the table for the worsening lending market that we live in. Most investors have started to implement true risk based pricing. This means that even though VA or FHA does not require a credit score to be above a certain score, the lenders now do. The changes are as follows and keep in mind that this is preliminary and is subject to change.
 
Anyone at or over a 620 credit score does not need to worry. 
From a 600 to 619 rate will go up .125%.
From a 580 to 599 rate will go up .375% to .5%
Under 580 is not allowed
 
These are new lender guidelines and may not be implemented everywhere yet, but I am sure with time, all lenders will be doing this. Now I do have a feeling that with time that this will get better as the investors adapt to our current mortgage environment. I just wanted to give everyone a heads up. Please give me a call if you have any questions.
 
Scott Batt
573-268-4698

Posted by Scott Batt on March 25th, 2008 10:38 AMPost a Comment (0)
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Flat Branch Home Loan's
Phone: Toll Free Phone:

VA Loan FAQ's | Testimonials | Home | Mortgage Blog

Copyright © 2012 Flat Branch Home Loan's
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map