Getting approved for a mortgage gets tougher on buyers – but rewards those with good credit scores

Vicki Johnson | Vicki Johnson Real Estate

A strong credit score can put buyers in prime position in today's market.

By Vicki Johnson

The real estate industry is abuzz with news of record-low mortgage rates for homebuyers; but not surprisingly, there’s a catch when it comes to getting approved for a mortgage in today’s market. According to a recent report in the Wall Street Journal, conditions have grown tighter in recent months, with banks and mortgage lenders approving borrowers with credit scores around 750. Just six months ago, that figure was 740 — revealing a stricter approach on the part of lending organizations…and an unparalleled opportunity for prospective buyers with strong credit.

Jonathan Corr, chief operating officer at mortgage software provider Ellie Mae, explains that borrowers with “really high” credit scores are the only ones qualified to receive the best rates currently available. If your score is below 740, you may still qualify – but pay higher rates than those with a score at or above 750. However, in today’s market – where even homes in desirable areas of San Diego, such as Rancho Santa Fe and La Jolla, are selling for significantly reduced prices – anyone with great credit is in a perfect position to seize the real estate opportunity of a lifetime.

Reaping the benefits of good credit: how to get a great value on San Diego real estate

The Los Angeles Times recently reported an upswing in home sales throughout California, as well as a dip in available inventory across the market as more traditional homebuyers return to house hunting in the spring. Combined with slowed-down price reductions, this activity has led some analysts to predict a final “bottoming-out” in the relatively near future – which means that soon enough, prices will once again be on the rise. In order to capitalize on the sliver-lining benefits of today’s market, qualified buyers should get in touch with an experienced local real estate agent today – and get started searching for the home of their dreams in order to get the best possible value.

As a seasoned San Diego real estate agent with an intimate knowledge of the Rancho Santa Fe community, I offer a winning combination of expertise, authenticity, and results-oriented negotiation to secure great deals and lasting satisfaction for my valued clients. I encourage prospective Rancho Santa Fe homebuyers with strong credit scores to contact Vicki Johnson Real Estate today: together, we can evaluate your options and find the perfect property to suit your needs. Learn more, peruse listings and get in touch online, at

Related posts:

  1. For qualified buyers, low interest rates yield increased access to high-end San Diego real estate
  2. Tax breaks for homeowners: how current market conditions stand to reward buyers come tax day
  3. San Diego real estate trends suggest improvements, prime opportunities for interested buyers in 2012
  4. Buying investment real estate: why now is the time to get back in the game
  5. Experts predict progress on the horizon for California real estate recovery

Short URL:

Posted by Social Media Staff on May 8 2012. Filed under Columns, Sponsored Columns, Vicki Johnson. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply


Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

RSS Solana Beach, Del Mar and Carmel Valley News

  • Surf Soccer Club Academy GU9 team tops in division at 2014 Albion Cup July 25, 2014
    The Surf Soccer Club Academy GU9 team took first place in the 2014 Albion Cup (Girls U9 Cup) on July 18-21. They beat Carlsbad United’s top GU9 team in the semi-finals and went on to shut out Strikers FC in the finals, 4-0. Awesome tournament play by the entire team! […]
  • Surf Academy Select BU9 win it all at Albion Cup July 25, 2014
    San Diego Surf Academy Select BU9 won it all at the Albion Cup July 19-21! After winning their Showcase division by going unbeaten all weekend, they defeated Legends FC 4-1 in the finals on Monday. This is the second year in a row this team has won the Albion Cup. […]
  • Pushing boundaries July 24, 2014
    Few issues cause parents more distress than changes in school boundaries. Who can forget the tumult when in 2002 the Del Mar Union School District moved hundreds of families from one attendance area to another? Resentment still lingers, 12 years later. The San Dieguito Union High School District created its system of boundaries nearly 18 years ago that has w […]

RSS La Jolla News

  • Let’s Review: ‘Ether Dome’ takes the lid off story of anesthesia at La Jolla Playhouse
    The traumatic experience behind performing amputations, tumor removals and vasectomies without anesthesia is immediately intriguing when Playhouse patrons view the incredible set design by James Youmans, representing the real ether dome at Massachusetts General Hospital in 1886. Below a well-lit dome, images of these crude medical procedures are projected on […]
  • Stone fruits are in now season!
    Sadly, summer’s stone fruit growing season is way too short, but oh so sweet! Did you know: • Plum trees are grown in every continent except Antarctica. • The peach has a poisonous pit containing hydrocyanic acid. • On average, there are 44 cherries to the pound. […]
  • La Jolla’s Best Bets for events July 24
    La Jolla Music Society’s nationally recognized chamber music festival, SummerFest, kicks off 7 p.m. Wednesday, July 30 with its annual, free Concert Under the Stars at Scripps Park, La Jolla Cove. […]