Well, there is no question about it, our local mortgage market in St. Louis Park is changing. The lenders are changing many guidelines of consumers who fit their profile. Some buyers are being required to have money down or a higher credit score to buy a home.
Some people think it is a bad thing....I think somewhere along the line, someone else will come up with a great solution to help more people. So, it may have a positive impact on the St Louis Park real estate market. We are definitely in interesting times and I'm curious to see what will come of all of the changes!
So, it's a wonderful idea to consult with your mortgage professional before you even start looking at homes. For a list of Pre-Approved Mortgage Consultants email me.
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