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McLean Mortgage Corporation » How Tough is it to Get Approved? Special Real Estate Report
Not as Tough as Most Believe How tough is it to get approved for a mortgage? How low can your FICO credit score go before your lender shows you the door? And how much monthly debt can you be shouldering — credit cards, student loans, auto payments — but still walk away with the home loan you’re seeking? You might be surprised. New data from technology company Ellie Mae, whose loan application and management software is widely used in the residential finance field, reveals that even if you’ve got what seems to be a deal-killing low FICO score or you’re carrying a high amount of debt, you still might have a shot at qualifying for a home loan to buy the house you want Consider some of these findings from Ellie Mae’s latest…
What’s Ahead For Mortgage Rates This Week
Last week’s readings on new and existing home sales provided further evidence of strengthening housing markets. Both categories of home sales exceeded December’s readings. Consumer sent…