Good News for Boston Real Estate

We heard some great news from Wells Fargo last week. It seems that they have lowered their standards on the public’s FICO scores. It will now be possible to qualify for a mortgage loan with a FICO score of 600. Of course that is if all your other financials are in order. image

Tom Goyda, a bank spokesman said, “The goal is to increase access to credit, especially for low- and moderate- income borrowers and first-time home buyers.” He continued, “These are fully underwritten, fully documented loans, consistent with FHA program guidelines and responsible lending principles.”

There is no doubt that other lending institutions will follow suit, easing up the mortgage loan business a little. We know one thing this will give another small boost to the Boston Real Estate Market.

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About Maxwell

MAXWELL@BOSTONLUXE.COM • CELL: (617) 543-7754 • OFFICE: (617) 267-4600 Maxwell Burke began his real estate career nearly 20 years ago doing appraisals with his father in Southern California and Northern Texas. He grew up in a family environment so oriented towards investment and real estate that to call his upbringing entrepreneurial would be a disservice. From his grandfather's multiple developments ranging from British Columbia down into Southern Mexico to his uncle's holdings in Portland, Oregon, Maxwell has been given a view not just of Boston real estate, but of American real estate. Maxwell and Drew Abysalh met in 2009 and increasingly consolidated their business models together culminating in their partnership in 2011. With over 300 real estate deals under his belt ranging from a standard rental to a $1.5 million condo conversion, Maxwell is a tremendous resource to help you realize your real estate dreams. Welcome to Boston Luxe - it's a pleasure to meet you. Google