Credit Scores For San Antonio Home Loans

 

 

Why is it so hard to find reliable information about minimal credit scores for San Antonio home loans?

 

The answer is simple. 

 

In today's post Great Recession mortgage lending environment, the lenders seem reluctant to post definitive guidance about almost anything.  That's because loan qualification standards are strict, multifactorial, and not just limited to an applicant's credit scores.

 

That said, there are some credit score quotes that are reasonably consistent across many lending websites.  They are:

• FHA loan - 620 minimum score and without a history of bankruptcy and with a positive history of paying creditors on time
• Conventional loan - 680 minimum score and without a history of bankruptcy and with a positive history of payting creditors on time
• VA loan - 620 minimum score and without a history of bankruptcy and with a positive history of paying creditors on time

Be mindful that, from the perspective of a lender, credit scores are only a part of a much bigger picture.  We recommend, therefore, that you consult with a loan officer at a mortgage brokerage,  bank or credit union. 

 

When the time comes to apply for a mortgage loan, it pays to shop around, so don't be shy about talking with many lenders because not all lenders have the same loan costs,  terms. and conditions. 

 

For a list of lenders with a proven record of providing satisfactory service for our home buyers, visit our lender page. 

 

Call them.  They'll be glad to hear from you because they want your business.

 

Please visit our website or call us for the best San Antonio area home buying and selling advice and assistance.  We are - For the best home selling advice and assistance, visit our website at sanantoniohomequest.com or call Stephanie Kelley at (210) 867-8743 or Randy Kelley at (210) 863-2661.

Stephanie & Randy Kelley

Realtors®

sanantoniohomequest.com

Keller Williams Lecacy

San Antonio, Texas 78258

Steven Gragg Broker

(210) 863-2661 or (210) 867-8743



 

 

 

 

 

Selling San Antonio Real Estate In December 2012

It's the Thanksgiving and Christmas holiday season 2012 in San Antonio. 

Late fall/early winter holiday season is an inconvenient time to market a home for most sellers, consequenty, prospective sellers who can affort to wait, usually opt to list after the holidays.

So, why should this year be different? 

Here are the reasons anyone who can list his or her home for sale now shouldn't wait until after the holidays.

First, the San Antonio area residential realty market is currently exceptionally active for the late fall home selling season. 

Second, the inventory of homes for sale is presently very very low. 

Third, because there are so many buyers looking at so few homes for sale, the market is frustrating buyers and favoring sellers.

Fourth, it's likely the majority of prospective sellers now waiting out the holidays will dump their homes on the market soon after the first of next year.

So, our recommendation is for prospective home sellers to get ahead of the crowd now instead of waiting for a time when there will be more homes on the market and competition for buyers will have become fierce.

We know how to best market your residential property. For the best home selling advice and assistance, visit our website at sanantoniohomequest.com  or call Stephanie Kelley at (210) 867-8743 or Randy Kelley at (210) 863-2661.   

Stephanie & Randy Kelley

Realtors®

sanantoniohomequest.com

Keller Williams Lecacy

San Antonio, Texas 78258

Steven Gragg Broker



Home Sales in San Antonio Took Off In October 2012

In the News From The Desk of Steven Gragg, Broker, Keller Williams Legacy, San Antonio

1. Unemployment drops in 37 states during October, the latest indication the job market is slowly recovering.  Texas and California added the most jobs in October.
2. Home sales in San Antonio took off in October.  Low interest rates and strong consumer confidence continues to the main drivers pushing up the San Antonio housing market.  Sales were up 20% over October laster year.  The median price for homes on the market in October was $159,500 - up 4% from last year.  The average sales price was $195,59a.  Year-to-date, sales are up 10.5% and the inventory of available homes for sale is about 6 months.  First time homebuyers made up 39% of sales - an increase of 2% over last year.
3. The latest job creation report shows growth both in San Antonio and the state of Texas.  October saw a record number of jobs in SA at 886,600,  with unemployment at 6.1%, Texas 6.6% and U.S. 7.9%.

SanAntonioHomeQuest.com

Realty Solutions Team
Randy & Stephanie Kelley
Realtors®
Keller Williams Legacy(800) 201-9145
(210) 867-8743 (Stephanie)
(210) 863-2661 (Randy)

Visit Our Blogs At:
http://www.trulia.com/blog/stephanie_kelley/
sanantoniorealestate.blogspot.com/
AirForcePcs.com



San Antonio, Texas, Mortgage News

IF YOU’RE LOOKING TO BUY OR SELL A SAN ANTONIO, TEXAS, HOME, VISIT THE BEST SITE FOR REALTY ADVICE AND ASSISTANCE AT SANANTONIOHOMEQUEST.COM.

NOW, HERE’S THE LATEST NEWS EXTRACT  FROM MIKE CLOVER’S WEEKLY MORTGAGE NEWSLETTER FOR THE WEEK OF 11 NOVEMBER 2012.

MORTGAGE MARKET COMMENTARY:

Mortgage rates barely wiggled around last week, even as stock markets moved significantly.  While the knee-jerk reaction was to blame the election for the stock markets’ declines, the more likely reason is the impending “fiscal cliff.”  Even with money flowing into bond markets, mortgage rates moved very little.  Beyond the election and the aftermath of Sandy, there was little economic news to influence mortgage rates to any meaningful degree.

Retail sales and industrial production are the dominant economic reports due this week.  It is likely that they will confirm that we are continuing this seemingly endless mode of slow growth.  Rates and stock markets are more likely to be influenced, in coming weeks, by the discussions in Washington regarding the fiscal cliff.  The more likely it looks that partisan politics will scuttle a deal, the more likely rates will continue trending downward.  Likewise, if we see growing hope of a deal, which is very likely needed to avoid another recession, then rates may start ticking upward.

HOUSING MARKET IMPROVING IN MORE METRO AREAS:

Last week, the National Association of Home Builders (NAHB) and First American released their monthly Improving Markets Index.  Twenty-two more metro areas were added to the list.  To be included, the metro areas had to show at least six consecutive months of posted gains in housing permits, employment, and home prices.  125 metro areas are now listed as “improving.”  In November 2011, there were only thirty metro areas on the list.

Homewood Mortgage, LLC - 18170 Dallas Parkway, Ste 304, Dallas, Texas 75287



mike.clover@homewoodmortgage
Apply at: www.mikeclover.com NMLS# 234770
469-621-8484 Office
469-438-5587 Cell
972-767-4370 Fax

:

Best 2012 San Antonio Thanksgiving Day Restaurant Options

Looking to buy or sell a San Antonio, Bulverde, or military bases area home, then visit us at sanantoniohomequest.com.


Now, here’s one of the best Thanksgiving Day Restaurant options for 2012 for North San Antonio and the Bulverde area.
 
Dear Friends,

We are now taking reservations for our Thanksgiving Day Dinner! We will be open from 11 a.m. to 2 p.m. on November 22, and serving a traditional Thanksgiving feast with a gourmet twist. Click here to view our menu. Bon Appétit,

Chef Mike

PS - Don't forget to book your holiday party with Mike's in the Village! Parties can be held in a private room at the restaurant or catered at your own event.   

San Antonio Texas Homes For Sale News

San Antonio, Texas , Homes For Sale News, From Steven Gragg, Broker, Keller Williams Legacy:

1. Home prices surge.  It’s a measure of U.S. home market recovery as prices jumped 5% in Sept. compared with a year ago. The largest year over year increase since July ’06.
2. Homebuilder starts in San Antonio  are up for the 5^th straight quarter. During the third quarter starts were up 24% over last year and year-to-date up 14%.

If you’re looking to buy or sell a San Antonio, Texas home, go to sanantoniohomequest.com for the best residential realty advice and assistance.

Texas Shifts To Home Seller’s Market

Nov. 8, 2012

According to the recent Texas Quarterly Housing Report from the Real Estate Center at Texas A&M University, during the 3d Quarter of 2012, the statewideTexas residential real estate market shifted into the seller’s market category.  That means, on the average, the market favors home sellers when it comes to negotiating price, terms, and conditions for selling their residential property.

If you’re looking to buy or sell a San Antonio area home, please visit us at sanantoniohomequest.com for the most reliable residential realty advice and assistance.  Randy Kelley, Realtor, Keller Williams Legacy, (210) 863-2661

November 2012 San Antonio Homes For Sale Report

This year, San Antonio is experiencing a very unique November residential realty market.

Typically, San Antonio area home sales activity cools down with the fall season. It's to be expected because San Antonio's realty market usually runs in a predictable seasonal cycle. The lowest sales month is January, the higher sales season kicks off in March and peaks in June, and, after school starts in August, the market draws down in a leisurely fashion through the fall and early winter months.

So, what's happening this November? 

Driven by low mortgage interest rates and the area's booming economy, Alamo City area home sales have continued at a remarkable pace well into the usual low season.

The effect is a decrease in the homes for sale inventory, increases in average list and sales price, and some sellers receiving multiple simultaneous offers for their homes. 

The bottom line - it's a strong seller's market.
.
Barring unforeseen factors, during this late fall and early winter, it seems unlikely that San Antonio's realty market will fade much, if at all. Consequently, home owners contemplating putting their homes on the market should act sooner than later. On the other hand, buyers can expect to find fewer homes to pick from and less flexible sellers when the time comes to negotiate price, terms, and conditions.

As proof, here are the important market indicators for single family detached homes as of 5 November 2012.

There are 9462 active listings, compared to 10771 one year ago. As mentioned, the inventory is exceptionally low and decreasing very rapidly. That's a good sign for home sellers.

The average sales price for the most recent closings is $197,684, compared to last year's $181,887. The increase in average sales price is reflective of a strong market and the relative scarcity of homes for sale. That's also a good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 119 compared to 146 last year. For the time being, CDOM data is positive for sellers.

In summary, industry analysts see these data as reflecting a residential sales market that strongly favors sellers over buyers. Nonetheless, buyers shouldn't be discouraged because interest rates are low and quality San Antonio homes remain highly affordable and a real bargain compared to homes in other large cities.

That's all for our November 2012 San Antonio residential realty market report. We encourage reader questions, comments, and suggestions for making this monthly report more relevant and informative.

Wishing you a safe and happy Veterans Day and Thanksgiving holiday, we're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. 

If you have questions, need San Antonio area realty or mortgage loan advice or assistance, or just want to chat a bit about the wonderful Alamo City, please call us at 
(210) 863-2661 or (210) 867-8743, or email us at swkrealtor@aol.com or kelleybus@aol.com.

Our sanantoniohomequest.com Realty Solutions Team is always ready to help you with your home buying and selling needs.