Is Getting a Home Mortgage Still Too Difficult?

  • By Eddie Yandle
  • 01 Dec, 2016

Some homes qualify for special financing in South Carolina

There is no doubt that mortgage credit availability is expanding, meaning it is easier to finance a home today than it was last year. However, the mortgage market is still much tighter than it was prior to the housing boom and bust experienced between 2003 - 2006.

The   Housing Financing Policy Center at the Urban Institute   just   released data   revealing two reasons for the current exceptionally high credit standards:

  1. Additional restrictions lenders put on borrowing because of concerns that they will be forced to repurchase failed loans from the government-sponsored enterprises or Federal Housing Administration (FHA).
  2. The concern about potential litigation for imperfect loans.

What has been the result of these concerns?

6.3 Million Less Mortgages

The Policy Center report went on to say:

“It was so hard to get a mortgage in 2015 that lenders failed to make about 1.1 million mortgages that they would have made if reasonable lending standards had been in place. From 2009 to 2014, lenders failed to make about 5.2 million mortgages thanks to overly tight credit. In total, lenders would have issued 6.3 million additional mortgages between 2009 and 2015 if lending standards had been more reasonable.”

In an   interview with DSNews , Laurie Goodman and Alanna McCargo of   the Policy Center   further explained:

“Our Housing Credit Availability Index (HCAI)* measures the probability that mortgage borrowers will become delinquent on that mortgage for 90 or more days, which we refer to as the default risk. This measure indicates that the probability of default rose from 12 percent in 2001 to a peak of 16.5 percent at the end of 2005/beginning of 2006, before declining to the current level of 5 percent. Stated differently, lenders are currently taking less than half the credit risk they were taking in 2001, a period of reasonable credit standards.”

The cost to the economy if we’re writing fewer loans…

Goodman and McCargo put it best:

“…fewer households will become homeowners at exactly the point in the economic cycle when it is most advantageous to do so… [They] will continue to miss this wealth-building opportunity. The median family wealth for homeowners is $195,400, with their home the most valuable asset for most; the median family wealth for renters is $5,400…   Fewer potential homebuyers means the housing market will continue to recover more slowly. At the same time, fewer buyers create a strain on other benefits to the economy which homebuying brings such as spending on home goods and an increase in construction jobs.”

Bottom Line

The housing market boom and bust caused many mortgage providers and lenders to tighten their lending standards in an effort not to repeat the recent past. This paired with many homebuyers disqualifying themselves before they even apply for a loan, due to the fear of rejection, has led to many households not yet becoming homeowners.

*The HCAI measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan.


Quick Move in Homes Available Now in Lexington! 

Dawson’s Park is also extremely affordable. This neighborhood is USDA Rural Housing approved, which means that homeowners can receive 100% financing through USDA with low interest rates and a minimal, if any at all, down payment! Find our list of Mortgage Specialists HERE

Lexington County Schools are known being one of the top, if not the best, school districts in the state of South Carolina with consistently high test scores.

The area of Lexington is growing rapidly as a suburb of Columbia, SC. The town has a friendly atmosphere and many locally owned businesses which create a sense of escape from the busy city life. For recreational activities, Lake Murray is just minutes away and provides a haven for outdoor enthusiasts. Swimming, boating, kayaking, fishing and hiking are just a few fun things to do on the 649 miles of shoreline around this 50,000 acre lake.

Columbia New Home Blog

By Eddie Yandle 11 Dec, 2017

Executive Construction Homes has always delivered innovative features in their homes. With a new partnership with Samsung, we now are able to offer the newest technology to our buyers for home appliance needs. Stop by our model home in Woodcreek Farms , and check out the new Family Hub, from Samsung.

While you're there, be sure to visit our Signature new homes  now offered with an inclusive appliance package of a stainless steel stove/oven, microwave, dishwasher and fridge as well as a washer and dryer. Ask about an exclusive 3 year warranty* and additional Samsung benefits .
This is a limited opportunity, so hurry today!

Stop by and see us at our model.

By Eddie Yandle 06 Dec, 2017

Sometimes we all get so busy that we forget the loved one that is always waiting for us at the door. During this holiday time, we searched for several articles that may help with keeping your favorite furry friend content during all the rush.


What can my dog eat during the holidays?
For awesome gift and treat ideas, Pampered Paw Gifts has some great ideas!  
A great article on what dogs can have (and shouldn't) is published in this great article- While checking it out, take a gander at some of the awesome gifts!  
READ THE FULL ARTICLE ON PAMPERED PAW GIFTS >>>

Dog Treats at Christmas

Besides an “atta boy” and pat on the head from you, the next greatest reward your dog likes is a yummy treat. What’s more, giving your dog a treat makes you feel good, too. The very act of rewarding your best friend with his favorite treat not only reinforces training, but helps solidify the bond you share with your canine companion.

Fortunately, organic Christmas treats are a way you can spoil your dog without giving him an unhealthy snack. If you do not have access to a doggy bakery, you can find several healthy choices online, the healthiest being an organic or all natural treat.

For instance, Pampered Paw Gifts   offers dog lovers organic and all natural products like salt free Christmas doggy cakes made with a rice cake and yogurt frosting, decorated in holiday colors, and trimmed in doggy bones.

The Christmas doggy treats look like pastries that come from a high-end human bakery and are exquisitely decorated in holiday colors in various dog-themed shapes. They not only look good enough for a person to eat for a Christmas treat, but are made with the finest human-grade ingredients. So, if your dog is willing to share with you, there is no harm in taking a nibble.

Other delectable dog treats you can expect to find online are cookies, bon bons, paw prints, paw cups, bones, reindeer, presents, mittens, santa paws, snowflakes, and wag sticks made from a peanut butter recipe and iced with yogurt. All items are free of byproducts, artificial color and flavors, and preservatives.

Listed below are other safe Christmas dog treats:

  • free-range chicken treats for smaller dogs
  • bon bons with yogurt coated snickerdoodle center
  • peanut butter macaroons filled with yogurt coating
  • cake bites made from pumpkin cake ball topped with organic coconut
  • snowmen cakes with peppermint carob and drizzled with yogurt icing
  • cookies that look like pies with a dollop of whip cream in the center
  • mini chocolate (carob) Christmas donuts flavored with peppermint oil
  • Christmas canoli filled with vanilla yogurt
  • decorated peanut butter carrot cake PupCakes
  • carob cakes filled with peppermint flavor and covered with coconut
  • chicken parmesan twists and canolis
  • cheddar cheese donuts
A favorite locally is The Palmetto Lifeline-
In their blog a recent article is sited for DIY gifts as well as great safety information.   READ FULL ARTICLE ON PALMETTO LIFELINE>>>  

ifts for Your Pets during the Holidays

Posted on   December 13, 2014   by   Pawmetto Lifeline

‘Tis the season for gift giving and warm holiday cheer. It is important not to forget the furry members of your family during the Holidays. To help you, we have created a list of fun gift ideas for cats and dogs!

  1. Home-made treats: Try some of Martha Stewarts Paw Print Dog treats or Becky Hardin’s Catnip Croutons: Homemade Cat Treats   or Paw Print Dog Treats  
READ MORE>>  
By Eddie Yandle 01 Dec, 2017
By choosing a maintenance-free neighborhood with exterior and landscape care provided, you can throw away that list of landscape and pressure washing companies and head out to The Members Club, play a round of golf on our Tom Fazio-designed golf course, a game of tennis, or enjoy all the close shopping and things to do in Columbia, SC.   Click for Directions
By Eddie Yandle 29 Nov, 2017
Located in the sought after Crescent Lake neighborhood, this established community 
has limited  lake view and basement opportunities. 
 4-6 bedroom homes &  large living spaces all with signature finishes and features.  LEARN MORE >>
By Eddie Yandle 25 Nov, 2017

717 Long Pointe Lane- MORE INFORMATION>>>

Coming Soon! New Construction Lakefront in the Desirable Award Winning Lake Carolina neighborhood of Harborside.

  • High End Custom Home to be built by Master Builder, Executive Construction.
  • Designed specifically for this lot, this spacious home incorporates style & design to showcase the builder's talents.
  • Lakefront home boasts beautiful architectural details including coffered ceilings, tray ceilings and cathedral ceilings and extensive moulding.
  • Windows across the back of the house and a covered rear porch take full advantage of the gorgeous view.
  • Designed for the possibility of a separate apartment & 2nd kitchen, if desired (Can be income producing).  Or simply perfect for extended living space.
  • Expansive space, large rooms and a fabulous floor plan with so many possibilities await you!  
  • There is even a space for a wine cellar.  

Marketed by : 

Julie Smith
Century 21 J. Bolos
Columbia, South Carolina
( 803) 476-6450

By Eddie Yandle 25 Nov, 2017

Crescent Lake

Part of an established neighborhood, Executive Construction Homes acquired 9 unique homesites with breath taking views, pond view locations,  and even basement home opportunities.  Starting from the mid $300,000's, a brand new home awaits those who are looking in the highly demanded Blythewood location near the Long Creek Area. Hurry as these are very limited new home oppurtunites in the BLythewood area.
Contact us for more information about these brand new floor plans ready Fall 2017 for quick move in.
By Eddie Yandle 25 Nov, 2017

Top 10 Tips for Choosing Shower Tile

Slip resistance, curves and even the mineral content of your water all affect which tile is best for your shower



Part of A Houzz Series on Decor read more!>>
By Eddie Yandle 25 Nov, 2017
Let’s face it. Christmas morning is messy. Wrapping paper strews the scene, mugs of hot chocolate are stashed about. Honestly, by 10 a.m. I usually look around my living room and wonder how the tornado hit so fast, and how my lovely decorations could suddenly look so … junky.

That’s why this year I’m taking a pared-down approach, and so can you. Here are a few of my favorite designer tips and tricks for a fuss-free holiday.
1. Just add foliage. One of the most beautiful things I ever saw during the holidays was at a restaurant I used to frequent in Venice Beach. Its walls were all white, and up near the molding, fresh green garlands, peppered with tiny white lights, were swagged across the room. There were no ornaments, no ribbons, but there was something really magical about it (and it worked so beautifully that they actually kept it like that all year round). This staircase takes a similar approach. Simple, approachable, lovely and festive.
2. Add faux fur. Call me crazy, but if Christmas morning meant lounging on a deck wrapped up in something furry, I’d pretty much be in heaven. You can keep the presents, stockings and even the twinkly lights (though I am rather partial to them). Faux fur instantly winterizes any decor. Isn’t that what decorating for the holidays is all about? READ MORE ON HOUZZ
By Eddie Yandle 24 Nov, 2017
Small Business Saturday-
It’s an annual shopping tradition dedicated to supporting small businesses and celebrating communities across the country. Founded by American Express in 2010, Small Business Saturday is celebrated every year on the Saturday after Thanksgiving. This year, you can get out and support the places you love with the people you love on Nov 25.
By Eddie Yandle 22 Nov, 2017
Thanksgiving 2017- What are you doing? If you happen to be looking for a place to eat while traveling or with your family, we searched a few spots that are open nationally as well as locally. 

National restaurants open list- Click here- Thanks, Newsweek! 

Local hot spots in Columbia, SC - From The State
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