Denver Refinance Rate Update
by Andrew Hahn on Nov.27, 2009, under Lending Philosophy, Loan info, Refinance, The Loan Process
DENVER REFINANCE, COMMERCE CITY REFINANCE
It’s the day after Thanksgiving and today was a shortened session in the market rates pretty much remained unchanged. Credit standards starting to become more strict making it more difficult to purchase or refinance.
Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.
Starting December 12, the automated system that the government-controlled mortgage finance company uses to approve loans will reject borrowers who have at least a 20 percent down payment but whose credit scores fall below 620 out of 850, the newspaper reported. Previously, the cut-off was 580. COMMERCE CITY REFINANCE
They just keep making it more difficult. If your thinking about refinancing now is the time. Appy now CLICK HERE
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