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According to the Federal Reserve, nearly a quarter of mortgage applicants are rejected."Good borrowers with one or two blemishes on their credit are being denied credit," says Lawrence Yun, the chief economist for the National Association of Realtors®.As lenders are now requiring higher credit scores and larger down payments, many buyers are left out in the rain:Anthony Sanders, director of Real Estate Entrepreneurship at George Mason University, estimates that the tighter credit standards has caused as many as 30 percent of would-be buyers - or even more - to sit on the sidelines.In some rural areas of Polk County and within … (1 comments)
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