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    Is borrowing money on a home going to get more expensive in 2014 Episode 352-2013

    Loans and Lending might be getting more expensive in 2014. That is the latest from the blog world and from the online real estate news sources we scour on a daily basis.

    The reasons can be talked about from a “greed” standpoint, at least that is how it appears.

    If I weren’t a conspiracy theorist, and I’m not ­čÖé – this could be “cinching” up the final lender regulations and will relieve the GSE’s from their current steak in the real estate and lending game. If “higher credit ratings” are required, then the chances of default are reduced. At least from a┬ástatistical┬ápoint of view.

    Don't gamble with your real estate loanIn 2007 you only needed a 680 Fico score to get the best loan, regarding rate, terms, and cost.

    That number is somewhere around 750-780 today.

    In 2014, rumor has it you are going to need an 800 Fico score to get the “BEST” rate the lender has to offer.

    However, don’t beat up your local mortgage broker or bank. ┬áThis word seems to be coming from the Government Sponsored Entities, GSE’s – like fannie and freddie.

    We shall see how this plays out, but if that is the case the additional fees will probably be passed along to those that need to borrow money to purchase real estate.

    I cannot harp enough about the local real estate inventory when I compare it with the “real estate syndication websites’. ┬áSome are dangling the carrot in front of your cart – be careful where you are searching for listings on-line. Be more careful who you are giving up your personal information to!

    We are hard at work finishing up a few deals during these last couple of weeks in December of 2013. Our buyers and sellers are happy, and we are also going to be building new YouTube videos during this time.

    If you have not had a chance to view some of our YouTube videos, feel free to see them at the BEST Real Estate website Santa Clarita has to offer.

    BTW – if you need someone to look over your credit and make suggestions or even fix it, we have a Credit Repair Guy that has done wonders for our clients in short periods of time. Use the password of: ┬á911 ┬á – To gain access to Robert’s promotion.

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