Regional Affairs Council – May 2011
Three years out of college and feeling secure about her job, Stephanie Pincus is sure this is the right time to buy.
Buying your first home can be a very exciting time, but it can also cause a lot of anxiety — especially when it comes to the application process for securing a mortgage.
“Six-twenty was a high credit score four to five years ago — it was a good one,” notes one mortgage expert. “Today, purchasers are getting penalized even if they have a 700 credit score.”
In foreclosure sales, short sales, and similar tranactions, you could be getting some problems you didn’t count on.