If you wish to buy a home but consider yourself incapable of getting credit, you may be living in the past in terms of assessing your financial situation. Lenders have become more flexible in underwriting mortgage loans.

A recent survey of mortgage lenders revealed some interesting trends. Ninety-six percent of those surveyed had cut their standard down payment requirements for moderate-income buyers, and 93% said they are more lenient regarding debt-to-income-ratios. Ninety-four percent of those surveyed said they now have more flexible approaches to credit histories, and look at rent and utility payments more than credit cards. Seventy-nine percent of lenders say they have relaxed employment criteria. They now look more at your capacity to generate a stable flow of income rather than requiring a long history at one job.

There are more lenders today, and they are in fierce competition with each other. The home loan industry has created entire markets that cater to those with less-than-perfect credit.

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Margery Ostrow
Weichert Realtors, Morristown East
20 Madison Avenue
Morristown, NJ 07960
Office: 973 539 8000
Fax: 973-230-9060
Cell: 201-874-5932
margeryostrow@NUMBER1EXPERT.com

Margery Ostrow has been in the real estate industry for over 18 years, having begun her career in New York City selling cooperative apartments and condominiums on the upper East Side, and immediately became the top-grossing salesperson her first year in business. Moving back to her native New Jersey with her family in 1991 Margery has been selling residences in Morris County ever since. With a proven track record in achieving at least 99% of list price within a 30-day time frame for sellers, Margery can definitely help the seller make more money and see the transaction move faster and smoother, from listing, through marketing and right up to closing. For Buyers she offers strong negotiating skills to help obtain the best price, attention to detail, patience, diligence and, above all, integrity. Through hard, full-time work and dedication she has achieved extreme success in helping people buy and sell their homes over the years, as a Cendant Mobility Marketing Specialist, Certified New Home Sales Specialist and Certified Corporate Relocation Specialist for ADP and other fine national companies. She has served as an active member of the community, volunteering for local school positions, serving at a local acute care nursing facility, and serving as chairperson of the grant committee of a charitable foundation. Read the testimonials of many whose lives she has touched, and then call Margery to answer all of your real estate questions and concerns!

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