Lynn Caldwell
313.884.2293 (Direct)
586.764.1356 (Cell)

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Why it's easier to get a mortgage today
After the housing crisis, it became very hard to get a mortgage. The pendulum swung so far that even former Federal Reserve Chairman Ben Bernanke was turned down for a home loan! The good news is that the pendulum is finally starting to swing the other way. Why? Competition. 

Fannie Mae reports that lenders are easing credit standards to gain more customers. Plus, Fannie Mae is helping too. The financial giant, which helps set the underwriting standards for mortgages that are sold to investors, raised its total debt-to-income ratio threshold. This means that more borrowers will qualify for home loans. This could be very good news for Millennials that have student loans. Student debt has been keeping many out of the housing market, but this move might help some Millennials jump in.
How can you improve your credit score?
Here's a general rule of thumb for credit scores: the higher your score, the lower your interest rate. It really does pay to work hard to improve your credit score. 

Just follow these four rules:
  1. Always pay all of your bills on time
  2. Check your credit reports (all 3) for errors and correct them
  3. Don't close old credit accounts - leave them open; the longer you have established credit, the better
  4. Stay away from your credit limits
If you are solid with the first three, focus on the last one. The lower your total debt is as a percentage of your total available credit limit, the higher your potential score. So if you qualify, ask your creditor to raise your limit! That can help quickly raise your credit score.
The greatest home selling tip
If you asked a professional home stager if you could do just one thing to help your home sell, they would likely respond with one word: neutralize. The one thing you want is for potential buyers to see your home as if it were theirs. But unfortunately, family preferences often get in the way: a bathroom is hot pink, a bedroom is black and red, and another has striped wallpaper. 

So put away the velvet Elvis paintings, posters, pet and personal items. Yes, they are you and yours, but try to make it their place. The more you create a blank canvas, the easier it will be for your buyers to paint themselves in your home!
Lynn Caldwell

Sine & Monaghan, REALTORS´┐Ż Real Living
18412 Mack Ave.
Grosse Pointe Farms, MI 48236
©2018 Real Living Real Estate, LLC. An independently owned and operated firm. Real Living is a registered service mark. Equal Opportunity Housing Provider. Pub 2/18
©2018 Real Living Real Estate, LLC. Independently owned and operated.