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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 04-13-2020, 04:21 PM
 
34 posts, read 20,860 times
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“JPMorgan Chase & Co, the country's largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.

From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home's value.

The change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.”


https://finance.yahoo.com/news/exclu...221128934.html
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Old 04-13-2020, 07:19 PM
 
3,331 posts, read 3,117,134 times
Reputation: 6396
Nice to see someone woke up. It is about time. They need to raise the interest rates, also.
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Old 04-15-2020, 11:15 AM
 
2,356 posts, read 1,152,514 times
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^
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Old 04-19-2020, 07:57 PM
 
16,928 posts, read 6,982,721 times
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Quote:
Originally Posted by Mista Jones View Post
“JPMorgan Chase & Co, the country's largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.

From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home's value.

The change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.”


https://finance.yahoo.com/news/exclu...221128934.html
? So what?
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Old 04-20-2020, 02:01 PM
 
59 posts, read 23,014 times
Reputation: 36
This will likely affect DMV less than other parts of the country.
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Old 04-21-2020, 07:21 PM
 
16,928 posts, read 6,982,721 times
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Quote:
Originally Posted by Reklaw86 View Post
This will likely affect DMV less than other parts of the country.
Why , just use a different lender. Yes it's that simple .
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