David Saks: August 2008

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

What is "C" Credit ?


"C" credit might equate to no credit for some in today's lending environment.

The borrower is facing considerably higher interest rates, Loan-to-value numbers come in at 75% to 80% of the appraisal, and it's just a tougher loan to risk, period.

Here are some additional factors to consider. If a borrower has a "C" on the report card they must have :

• Fair credit last 12 months.

• Job stability - one year in the same profession (can be six months for some lenders).

• Debt ratio (house payment, installment & revolving) not over 55% (probably much less for some lenders in todays new lending environment) of gross income.

• Consumer credit . 30-day late payments might not be counted, no more than five 60 or three 90 day lates or delinquincies.

• Mortgage credit . no more than twelve 30-day late payments (although I'm skeptical about this)

one 60, one 90 in last 12 months.

• Liens, judgments or collections must be paid if they affect the title to the property.

• Bankruptcy . at least two years since it's discharge and a fair credit history since the discharge.

Again, this isn't a strict rule of thumb here, just observation and a little research, and I'd like to hear from our mortgage and lending community. I think our community of lending pro's have a lot to say and I'm counting on them to set the record straight.





David Saks

Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.


Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.





"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


  Real Estate Crimes


Click "HERE" For Today's Question



TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis



America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 0 commentsDavid Saks • August 26 2008 12:30AM
What is "C" Credit
"C" credit might equate to no credit for some in today's lending environment. The borrower is facing considerably higher interest rates, Loan-to-value numbers come in at 75… more
What is "B" Credit
Lenders are beginning to push the real strict risk thresholds here. This risk comes with a Higher Interest Rate, Loan-to-value is ususally at 80% to 85% of the appraisal,… more
What is "A-" Credit
Things get a bit stricter here but it's safe to say that your still in good territory if you meet the following criteris. I spoke with one of the local lenders and he told me that these… more
What is "AX" Credit
The difference in "A" and "AX" are that a few late payments are ok with this type of rating if your lender decides to brand you with it Here are a few of the fine… more
What Is "A" Credit
Just what exactly is "A" Credit Is this what the lender is looking for Times are changing and so are the lending requirements, and it's getting tougher. "… more
Tips For Personal Safety : #1 Strangers
I thought that it might be a nice thing to alert you to a few facts about watching your back when your out in the field. This first tip is about dealing with strangers, and I'll make it… more
Clauses : The Rollover Clause
This is a clause that will alow a buyer to rollover a loan for a like period of time ( or perhaps a prescribed period of time) after the loan becomes due and payable in full. This type… more
Clauses : The Option Clause
Basically, when a contract is wrtten for real estate two types of contracts are used. 1. The Specific Performance Type 2 A Receipt and Option Type An 'earnest money' clause… more
Clauses : The Performance Clause
What a buyer, or better yet a seller-financed buyer gets with this type of clause is some confidence. More specifically, confidence that a buyer or an investor will have relying on a specific… more
Clauses : The Subordination Clause
Subordination is a term that we're all familiar with. If you have two mortgages on a property and you refinace one of the mortgages, the subordinate mortgage, the second mortgage, is going to… more