Is Anyone Else Confused??? Or Angry with Difficulty in Qualifying for Loans? - 12/17/07 02:24 PM
Theoretically interest rates were lowered to stimuate the economy. IMHO, the wrong "number" is being lowered. It used to be pretty much anyone with a 600+ FICO could get a loan. Now I can understand that people with FICOs way below 600 having difficulty getting a loan and they definitely shouldn't be getting 100% financing. Anyone who hasn't been able to save 5% (or have other assets or excellent credit) doesn't have what it takes to make a huge mortgage payment. In the Bay Area, most mortgage payments create huge payment shock. But I digress...
I think that people in the mid-600--maybe … (1 comments)

 
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Rebecca White San Francisco Real Estate Agent

San Francisco, CA

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Better Homes & Gardens Mason-McDuffie Real Estate

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