The past four years have seen a lot of changes as far as mortgages go. But most of us haven’t had to deal with getting a mortgage both in the pre-2007 era and after.
It may be surprising to find out just how much the prime mortgage requirements have changed in only four years. Prior to 2007 if you had a credit score of just 620 you could get a loan for the full price of your home if you met the other conditions—now that needs to be a lot closer to 700.
Take a look at the infographic below to get a better feel for exactly how much harder it is to get a mortgage today: