Obtaining a Mortgage is Getting Harder for Borderline Buyers

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Lenders are more stringent on minimally acceptable credit scores.

December 21, 2015
Obtaining a Mortgage is Getting Harder for Borderline Buyers

Photo: Bill Bradford/Creative Commons.

Getting a mortgage today is harder than it would’ve been a year ago. 

This is the first time since 2012 that this has been the case, according to Zillow. The Mortgage Access Index, which measures the difficulty of getting a mortgage compared to pre-bubble standards, was 62.7 at the end of Q2, down from 67.8 a year ago.

Lenders are making it tougher to get mortgages by raising minimally acceptable credit score rates, reaching 676 in June, up from 670 at the end of 2014.

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