According to a new report from First American Core Logic, the Fort Worth-Arlington Market was #1 for the lowest Mortgage Risk in the country. Not to be outdone, Dallas-Irving was ranked #2.
First American’s Core Mortgage Risk Index is a commentary on the relative risk of Mortgage Delinquencies due to fraud propensity and collateral risk, home price dynamics, and the health of local market economies. Based on these factors, they determined that Dallas real estate market and the Metroplex overall was one of the least risky places for mortgages, which means several things. If you are a client considering a move to the Dallas area, the chances of you being in house that will lose value are slim, if not non-existent. Economic indicators here are strong-there are many large companies located here, and many more are buying land to move here. These factors will help keep the economy strong here.
As far as lenders go, they want to lend in areas like this. If they make a loan on a Dallas home and know that in 5 or 10 years, it will still be worth at least as much as they loaned on it (and will most likely be worth more) then they are more willing to expand their lending capacity in places like the Dallas real estate market. Also, if the economy is strong, there will be less chance of foreclosures and slow pays due to unexpected job losses or plant closures.
If you want to discuss the report further in detail, or if you want to know more about the Dallas area, don’t hesitate to call me. We can also discuss the different areas in the Metroplex, and I can put you in touch with a strong Realtor at Texas Home Central to help you find your dream home!
Craig Pollard is a mortgage professional and owner of Texas Mortgage Team. He specializes in the Dallas Fort Worth area with an office in Flower Mound and is a frequent voice on Texas Home Central’s blog. Craig can be reached at 972-317-9900 or emailed by clicking here.
Tags: Dallas Mortgage, Mortgage Market
This entry was posted on Wednesday, May 21st, 2008 at 2:33 pm and is filed under Dallas Fort Worth, Home Buyer, Housing Market, Money Matters, Mortgage, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.