In case you missed Sunday's New York Times Article A Market Going Downhill Fast, home buyers and sellers in New Jersey have a lot to think about. Overall, New Jersey home sale prices have declined by an average of 15 to 20 percent in every county in the past three and a half years based on contract sales data. However, towns along and adjacent to the Midtown Direct Train-line have actually seen average...
Tom Wragg
Wells Fargo is tightening the guidelines on a regular basis. You may not be in a distressed area but the guidelines are much tighter then 6 months ago and far tighter versus a year ago. Wells Fargo has increased the FICO requirement on jumbo loans from 620 to now a minimum score of 680. The max DTI went from 50% down to 45%. I know Wells Fargo is usually the front runner in jumbo pricing so if you are...