Is Mortgage Lending Becoming Riskier Again?

Housing costs are up 50% compared to what they were last year, but that doesn't mean you can't afford a home. Most lenders want borrowers to have at least a 620 FICO score and a debt-to-income ratio no higher than 45%. And unlike in the mid-2000s, they require extensive documentation to verify that borrowers earn as much money as they claim to avoid borrowers being unable to make their loan payments.

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Team Harry Realtors offers a great advantage to our clients in that we are your one stop shop for buying, selling and financing your home! 

We've seen many times that our clients who finance their purchase with Craig at Renaissance Lending Group have an advantage over other buyers because together we are your REALTOR and your LENDER. We can provide our clients the estimated monthly payment, inclusive of taxes, insurance and PMI (if applicable) when we show homes during the purchase process. This makes comparing homes and monthly payments easy, which is invaluable to when they're deciding to make the largest purchase of their life.

When negotiating offers, especially in a competitive market, being the lender and the REALTOR means we can speak confidently about our client's financial means and provide confidence to sellers that we can close the deal! This has proven to be a successful combination for our clients on numerous occasions, even when we're not the highest offer. Sellers who have added confidence in our buyer's ability to close the deal are much more likely to accept our offer.