Anastasia Kaufman - ABR, SFR, GRI, CDPE - RE/MAX Town & Country | Lincoln, RI Real Estate




 
May 6, 2019

Lenders are showing more tolerance for riskier mortgage applicants, lower credit scores, higher debt-to-income ratios, and smaller down payments, according to a new report from the Urban Institute’s Housing Finance Policy Center. In some cases, lenders are even reaching out and encouraging borrowers who have previously been rejected for a mortgage to try again.

In particular, the Federal Housing Administration, Department of Veterans Affairs, and the Agricultural Department’s rural home loans program have pushed risk to the “highest level since 2009,” notes the Urban Institute’s latest quarterly credit availability report.

However, not all lenders are loosening their policies. Laurie Goodman, vice president of the Housing Finance Policy Center, says she’s not alarmed because current lender risk levels continue to remain well below historical norms. She notes that they remain below what she considers “reasonable lending standards” from 2001 to 2003. “Significant space remains to safely expand the credit box,” Goodman notes in the report.

However, some financial experts are concerned that lenders may be overstretching themselves, as they did during the prerecession days. “I have definitely noticed a fast uptick in creative [loan] products coming out,” John Meussner, executive loan officer with Mason-McDuffie Mortgage in San Ramon, Calif., told The Washington Post. He says he’s noticed lenders are more willing to accept lower FICO scores and solicit applications with scores in the mid-500s who also have a low down payment. “Recently, we saw one investor roll out a product, offering up to $2 million in financing for FICO scores down to 600,” he told the Post. The loan permits borrowers to make a late payment on their mortgage within the past 12 months; have credit blemishes like a bankruptcy or foreclosure; and requires borrowers to have only three months of reserves for loan amounts to $1 million. Meussner says loans like that are similar to those that lenders pushed prior to the housing crisis.

However, other lenders say banks are still mostly being cautious. “They continue to scrutinize applicants and their documents in unbelievable detail,” Paul Skeens, president of Colonial Mortgage Group in Waldorf, Md., told the Post, adding that the company’s defaults remain very low.

Source: https://magazine.realtor/daily-news/2019/05/06/are-lenders-loosening-mortgage-requirements-too-much?fbclid=IwAR11kLHpM-oBxIR9Had9TXesJCtcKwVx5pb0aiLmFaRU2oV8RNsFKMF_lJM

Home Lenders Are Becoming More Friendly to Riskier Applicants,” The Washington Post (May 1, 2019) and “Housing Credit Availability Index,” Urban Institute (April 19, 2019)


Watch my youtube channel here: https://www.youtube.com/channel/UCrJ_RQ936evOTUDiWFMOarg

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73 Angell Road, Cumberland, RI 02864

Single - Family 

$369,900                    $362,000   
List Price                    Sale Price


Beds         Total Number of Rooms      Baths

  3                      5                 1 1/2   



Wonderful sprawling open concept ranch with character! Expanded space in 1985 and Recently updated amazing chefs granite kitchen with plenty of space to entertain including custom cabinetry, farmhouse sink, side pantry with mullions, high end induction cooktop,double ovens and plenty of light with cathedral ceilings and skylights and quarter sawn white oak flooring. Beautiful!! Walk into the huge great room and feel like your in Vermont showcasing amazing cathedral ceilings made of beautiful wood beams and full anderson windows surrounding the space. Centrally located is a pellet stove providing plenty of ambience. New main full bath updated with amazing open concept shower space, double undermount sinks and granite countertops. New Porcelain tile flooring in halls and bathroom spaces.Recently added new half bath for Master Bed Ensuite. Also added new high efficiency gas boiler, tankless hot water, and Nest thermostats. Electrical updated to include a sub panel in the garage. Basement Flooring included a new gym floor with plenty of space for play. Barn/shed recently updated to include concrete flooring and upgraded cedar supports. Home includes a lovely hardscaped patio with tranquil waterfall and pond.


 



Watch my youtube channel here: https://www.youtube.com/channel/UCrJ_RQ936evOTUDiWFMOarg

Visit my facebook account here: https://www.facebook.com/AnastasiaRealtor/

Download Anastasia's Smart Home Finder App here: http://87778.mobi/REANAS


 
 

Use humidity, a car product, and more wow ideas to save cleaning time.

Goldfish crackers spread and broken on gray carpet
Image: Micco Caporale for HouseLogic

When cleaning your home, why not do it in such a way that'll keep your home cleaner with less effort?

Here are 7 ways to keep your spring-clean fresh all year long:

#1 Use Humidity to Defy Dust

Low humidity levels cause static electricity. Not only does static attract dust, it makes it stick, so it’s difficult to remove. High humidity causes problems, too -- it’s an ideal environment for dust mites. These microscopic critters are a double threat: They’re a common allergen, and they contribute to dust production. There are as many as 19,000 dust mites in half a teaspoon of house dust, according to the American College of Allergy, Asthma, and Immunology. Yuck!

What to do: Keep your home’s humidity level between 40% and 50%. That’ll eliminate static while decreasing dust mite growth. 

Tip: About 80% of dirt in homes walks in from the outside. Stop dirt with a bristly doormat before it’s tracked inside.

#2 Apply a Car Product to Keep Shower Doors Scum-Free

You can eliminate soap scum build-up by coating your glass shower doors with a rain-repellent product made for car windshields. When applied to glass, products like these create an invisible barrier that causes water, oils, and debris (like soap suds) to bead and roll off.

What to do: Find this product anywhere that sells basic auto supplies. You’ll know it’s time to reapply when water stops beading on shower doors. Keep in mind, windshield rain repellants were made to treat glass, not plastic, so only use on glass door.

Another option: Automatic shower cleaners claim to let you clean your shower and tub less frequently -- like every 30 days. After you finish bathing, the gadget will douse your shower and tub with a cleanser that prevents soap scum build-up while combating mold and mildew. You can buy automatic shower cleaners at most big-brand retailers, like Target and Walmart.

Related:

#3 Seal Your Stone Countertops

Natural stone countertops, including granite and marble, are porous, so if they’re not sealed, liquids like red wine, juice, or soy sauce can stain them. A countertop sealer repels stains by causing spills to bead instead of getting absorbed. Most countertops are sealed when installed, but the sealant does wear down.

What to do: To keep your countertops in tip-top shape, re-apply sealer twice a year. To see if you need a fresh coat, pour a tiny bit of water on your natural stone countertop. If the water doesn’t bead or doesn’t stay beaded for two to three minutes, it’s time to reseal.

Shopping for stone countertops? Slabs with lots of swirls or veins tend to be more porous, and, therefore harder to keep clean.

#4 Use Protectants on Furniture and Carpets

Protective furniture sprays and carpet sealants, like Scotchgard and Ultra-Guard, guard against inevitable spills by causing liquids to bead on the surface instead of being absorbed.

Some of these products also protect fabrics from fading and resist mold, mildew, and bacteria.

What to do: Apply the appropriate sealer once a year after a deep upholstery and carpet cleaning.

#5 Clean Your Oven the Old-Fashioned Way

Forget oven cleaners that promise an easy job. Most cleaners give off noxious fumes and make a horrible mess. The basic ingredient in many oven cleaners is lye, which can burn your eyes and your skin; it’s usually fatal if swallowed.

What to do: Use a wet pumice stone to scrape off dirt and grease. It’s faster than oven cleaner and toxin-free.

Tip: Need to wipe your range or anything else down? You can bust filth faster by heating up a clean, damp sponge or cloth in a microwave for 30 seconds before wiping with or without a cleaning product. Put on rubber gloves before you pick up that hot sponge.

#6 Do Quick Touch-Ups

Small cleaning projects prevent filth from building up. When you spot clean daily, you can prevent smudges from staining, banish dust bunnies, and even combat allergens.

Dry sweeper cloths, sponges, and cloth on a wood table
Image: Anne Arntson for HouseLogic

What to do: Create a spot-cleaning kit so you can address small, dirty situations in minutes.
  • Cleaning pads are great for eradicating dirty fingerprints on walls and light switches. 
  • Damp micro-cloths can reduce airborne dander when used daily to wipe down pets.
  • Dry sweeper cloths can quickly pick up dust and dry dirt off floors, shelves, and electronics.

Tip: Keep stored items cleaner longer by shutting closets, cabinets, and drawers, so circulating dust and dirt can't get in.

#7 Update Your Light Bulbs

Okay, It's not really cleaning. But good lighting can make you and your home look and feel great — and help you spot that spill before it gets funky.

A room lit with low-wattage incandescent bulbs and compact fluorescents can look dark and dingy. “Daylight” bulbs brighten things up. These full-spectrum light bulbs mimic natural light, so they give better visual accuracy. Bonus: Like sunlight, these bulbs can boost your mood.

What to do: When shopping for bulbs, look for those marked "daylight" that have a range between 5,000 to 6,500 kelvins.

Related:

Watch my youtube channel here: https://www.youtube.com/channel/UCrJ_RQ936evOTUDiWFMOarg

Visit my facebook account here: https://www.facebook.com/AnastasiaRealtor/

Download Anastasia's Smart Home Finder App here: http://87778.mobi/REANAS





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