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Va Loans | From Urb to Burb and Beyond Blog

Tuesday, June 30, 2020   /   by Vanessa Saunders

Changes in mortgage lending add to buyers' challenges.

Last year at this time, mortgages in forbearance programs represented 1% of all mortgages. As of May 10, 2020, more than 4 million borrowers were able to declare financial hardship and delay making payments on their loans for up to a year. Things are a-changin' in the mortgage world. The Covid-19 pandemic and economic shutdown have left the mortgage markets bubbling with volatility, and lenders are changing to meet the new normal.
Is it still possible to get a mortgage? The answer is yes, but some of the rules have changed.
Lenders are asking for higher qualification thresholds.
Expect more hoops to jump through, especially on mortgages that are deemed more "risky" than others - jumbo loans, high-balance conforming loans and investment property loans.
(A conforming loan is a mortgage that is equal to or less than the dollar amount established by the limit set by the Federal Housing Finance Agency ( (FHFA) and meets the funding criteria of Freddie Mac and Fannie Mae.) Buyers will . ...

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Monday, February 24, 2020   /   by Vanessa Saunders

5 tips for buying a house on bad credit.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
If your financial situation is less than perfect, buying a house may be a bit more challenging than it would be for others. But it is possible. Here are five things a prospective home buyer can do toward getting a home, even with fair or bad credit .
1. Improve your credit.
It sounds obvious, but it can be done. Lenders judge a borrower's likelihood to pay back a loan based on their credit score. A credit score range between 669-580 ranks your credit as “fair,” and is considered a higher risk for a mortgage lender. Lenders view a score of 579 or less to be “bad credit.” A low credit score means you’re a higher risk for a lender.
It is possible to improve your credit score if it's below 580, and it may take some time. You can:
Improve your payment history.
Having a history of regular on-time payments are a critical part of good credit. Having a plan to regularly make payments wil; ...

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Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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