Mortgage Qualifying in 2015 VS. 2014 Hi, Just wondering across the US how has the mortgage financing been with banks for qualifying for a mortgage loan. Have the banks eased up on qualifying.

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Peter Mark, Real Estate Investing (PeterMark)

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Rainer
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Joe D'Agostino

NMLS# 729950 - Manahawkin, NJ

Mortgage Officer 46 years!

Not getting a Pre-Qual done in today's world is just plain risky. Too many problems. In the future more constraints will be placed on the lender to provide a more concise Pre-Approval letters.

Jul 16, 2015 07:38 AM

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Rainer
22,110

Mike Sasse

OfferPad Home Loans, LLC - Scottsdale, AZ

Sales Leader

As it has been mentioned, there has definitely been a lot of easing with the conforming guidelines. I have also noticed a lot of local banks across the country are opening up a lot of non-QM loans (non-traditional credit, low down payment, etc.)

Jul 09, 2015 11:02 AM

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Ambassador
1,135,581

John Meussner

Mason-McDuffie Mortgage - Fair Oaks, CA

#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Things are far easier than even just a year ago. Guidelines have loosened, new programs have become available, and if you've got semi-decent credit and 3% down (in most cases), a home loan can be yours.

Jul 09, 2015 03:20 AM

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Rainmaker
5,590,297

Barbara Todaro

Keller Williams Elite - Franklin, MA

"connecting land with builders"

the banks have loosened up significantly, but I hope we don't see another administration with the attitude that everyone should be a homeowner....

Jul 08, 2015 10:29 PM

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2,538,897

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

Good morning Peter. There has been easing of some guidelines and there will be more. More non-QM products available all better for the consumer.

Jul 08, 2015 07:13 PM

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Not getting a Pre-Qual done in today's world is just plain risky. Too many problems. In the future more constraints will be placed on the lender to provide a more concise Pre-Approval letters.
As it has been mentioned, there has definitely been a lot of easing with the conforming guidelines. I have also noticed a lot of local banks across the country are opening up a lot of non-QM loans (non-traditional credit, low down payment, etc.)
Things are far easier than even just a year ago. Guidelines have loosened, new programs have become available, and if you've got semi-decent credit and 3% down (in most cases), a home loan can be yours.
the banks have loosened up significantly, but I hope we don't see another administration with the attitude that everyone should be a homeowner....
Good morning Peter. There has been easing of some guidelines and there will be more. More non-QM products available all better for the consumer.