Borrowers Deemed Less Healthy in Q3
A prospective buyer’s financial health will determine their ability to be approved for a home loan. The loan-to-value (LTV) ratio of the property and the borrowers overall credit scores are used to determine their financial stability and their ability to perform on a loan repayment. In the third quarter of 2013 it was determined that a lower percentage of prospective borrowers could qualify for a home mortgage (on a national level), mostly due to the rising cost of homes being listed on the market.
If you are interested in learning more about your financial health and how it will impact your ability to purchase a home, contact Barry or Brenda today at the Zwahlen Team. Their goal is serving your needs and making sure all of your questions are answered.