With the burst of the housing bubble, the Federal Government has created several new banking and lending laws and has stiffened the standards used to judge the credit worthiness of home buyers. Higher credit scores, lower debt-to-income ratios, higher down payments, more expensive mortgage insurance and higher fees are all part of the new standards. A recent CNN article, discusses the new standard 500 page mortgage application that borrowers face. Many government backed loan also require additional inspections and appraisals that can either delay or kill the sale of a property. If you have a property that you want to sell, but is need of repairs OR if you don’t want to deal with the hassle of showings, negotiations, inspections and appraisals, give Saint Louis Home Buyers a call today at 314-227-0999!!
