May 12, 2011
Conventional Mortgages
Data from Freddie Mac and Fannie Mae have shown the requirement to obtain a conventional mortgage have been tightened significantly. The average credit score for conventional loan borrowers has risen to about 760 in the current market from around 720 in 2007. The FHA loan borrowers average credit score has also risen to about 700 when it was just over 630 in 2007.
The National Association of REALTORS chief economist said, “Although home sales are coming back without a federal stimulus, sales would be notably stronger if mortgage lending would return to the normal, safe standards that were in place a decade ago-before the loose lending practices that created the unprecedented boom and bust cycle.”
Are you interested in what your house is worth in this market? How about what you would be able to afford? For any real estate questions related to the local great Indianapolis area give me a call/text at 317-413-5311 or email me at .
Posted by: 
Jeremy Page
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