Over the last few years mortgage lenders have been very strict with their requirement for lending money. Most people believe they have been far to strict and over documenting every file that comes in. There's good news on the horizon, as lenders are loosening up their credit guidelines for buyers. Below is a good article by Inman News that will hopefully put a smile on your face if you are a home buyer.
As mortgage refi boom dries up, lenders loosening requirements for homebuyers
“Online mortgage originator LendingTree’s monthly Credit Accessibility Report shows the average accessibility score for U.S. borrowers rose from 103 to 106 between July and August, indicating that borrowers had easier access to mortgage credit.
I just seems like the good news on the real estate market keeps coming in. I most U.S. cities home prices have been going up for over and year and now a lot of lenders are loosening up their credit guidelines. Let's hope this trend continues.