Homebuyers: Lending Standards Are Still Tight, but New Credit Scores May Help

It’s no secret that today’s homebuyers are facing some of the toughest lending standards we’ve seen in decades. In fact, home sales are hovering near a 31-year low—thanks to a combination of strict lending requirements, high mortgage rates, and climbing costs. There is a bit of hope on the horizon: new credit scoring models are now accounting for factors like rent and utility payments. While that’s a step in the right direction, many low-income and minority buyers are still being left out, despite maintaining strong records of paying on time and keeping default rates low. As someone who has spent more than 20 years helping clients navigate both residential and commercial real estate across Middle Tennessee, I’ve seen firsthand how challenging this environment can be. My goal is always to guide you through each step, offering clear advice and creative strategies—no matter what the lending landscape looks like.