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Lending may tighten up!

I am not normally a doom and gloom kind of guy.

But, this virus pandemic has created a lot of discomfort and difficulty for many people around the world. My heart goes out to everyone that has been affected.

While some effects can be seen, others are yet to be felt.

Home loan lending is one example.

Recently there was an article in HousingWire that stated that Chase now requires 700 FICO score and 20% down to buy a home. Months ago, this would have been unheard of, but in light of recent events, this could become closer to the new norm for the foreseeable future.

This may be a good time to complete that purchase of a home while there is still a bit of affordability left in the lending space.

Best to you and yours. 

Southern Breezes Real Estate

Charleston SC