Government Guidelines Are Getting Tighter

January 13, 2009 by Eleanor Leave a Comment

A major bank announced last week that they are going to begin charging a higher fee to folks seeking Government Financing (the most popular loans right now) that have credit scores less than 620.

For more information about this change… click here. 8o((

This does NOT mean that you can not get a loan if your score is less than 620, only that you will pay a higher interest rate, and it will be more difficult for the lender to give you a credit to cover part of your closing costs!

If you have specific questions about purchasing a home in NC, call us!

About Eleanor

I see myself differently than most loan officers in the Cary/Raleigh market. As a rare Cary native, I see myself as an expert on the area, on mortgage industry changes & factors that effect rates! I've lived in Cary since 1968 - and I'm second generation "mortgage." I work with my husband, Steve Thorne Mortgage Loan Originator #60596 River Community Bank, N.A., NMLS #448992 Equal Housing Lender More About Me