4 things that may complicate your home-buying process during the coronavirus pandemic - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Some lenders are setting stricter requirements to qualify for a mortgage, including higher credit scores and larger down payments

Cigar-Hodge said that even lenders like Fannie Mae have raised their credit scores for certain types of loans.

However, Cigar-Hodge said higher down payment requirements aren't as common as mandatory high credit scores right now. If you talk to a lender that has raised its minimum down payment amount, then you can probably find another lender that will accept less.Because so many Americans are facing financial hardship during the pandemic, some lenders may require more proof than usual that you're financially secure.

"I'm only speaking for Better.com," she said. "We only account for two years. Some other lenders may have longer periods of time they want to account for."With the influx of mortgage and refinancing applications, some lenders may take longer than usual to process your application. Application approval may go more quickly with online lenders that process your information digitally, though., may take longer than you'd expect.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meet Stephen Ross: Inside his life and $7.2 billion net worth - Business InsiderStephen Ross — Trump donor and Equinox chairman — is reportedly mobilizing a $100 million campaign to elect NYC's next mayor. Take a look at how one of the city's richest residents built his fortune. Unless he is giving it to mayawiley we dont wanna hear it!!!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside Santa Barbara County, Prince Harry and Meghan Markle's new home - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Why do we need to talk about it? They are cute they are loved It here in covid it’s harsh just relax be happy enjoy things cuz life is going to get harder
Source: BusinessInsider - 🏆 729. / 51 Read more »