The days of doling out new home loans to just anyone are over.

With the nation facing a deepening financial crisis, mortgage banks have tightened their credit standards.

Here’s how to get that new home loan:

At Fresno-based Murphy Bank, Vice President Richard Laxton says the bank is looking for people with a credit score of 700 or more.

“You pick up the newspaper and you read about thousands and thousands of job layoffs,” he said. “If somebody has got a weak FICO score at the moment, that’s not somebody we want to gamble on right now.”

Home loans

The days of no down payment and not-so-great credit are over.

First-time home buyers looking to buy through the government’s Federal Housing Administration loan program need a credit score of at least 600, said Mike Baker, manager of Fresno-based Resource Lenders.

The loans require a 3.5% down payment, he said.

For a conventional loan, lenders want a credit score of at least 680, Baker said. The greater the percentage of the house that must be paid for with the loan, the higher the credit score needs to be, he said.

A 20% down payment is preferred, though 10% down payments are common, he said.

Granville Homes’ preferred lender likes to see credit scores of 720 and above for a conventional loan, said sales manager Michelle Brunn.

Customers can get financing below that, but their options might be limited.

If a credit score isn’t good enough, lenders will look for “compensating factors,” Baker said. That includes getting the buyer to come up with a large down payment and show a long and steady work history.

The good news is there are easy and relatively quick credit fixes that can put buyers in a better position.

For instance, lenders don’t like to see customers who regularly go over 50% of their available credit on items like credit cards. Paying down to below 50%–and especially 30% — could cause their credit score to “skyrocket,” Baker said.

However, paying off accounts and closing them is not a good idea because it can cause scores to drop dramatically.

If starting from scratch, first decide if your space is going to be formal.

Don’t want formal? Maybe your lifestyle is casual and laid back.

Look through magazines, watch design shows, surf the web and choose a look: sophisticated, comfortable or casual? Find one element to design the room around and make that the inspiration for the room.

While shopping, keep thinking of your inspirational center piece

Your inspiration could be in the form of artwork, a designer rug, shelving or even a mural on the wall.

It is very important not to second guess the size of your room and walls based on memory. Be certain to measure door and window openings before purchasing any piece of furniture to ensure it can fit in the room.

Also, take into consideration narrow doorways, hallways and tight spaces. It can be difficult getting large pieces of furniture down a hall and making the turn with the furniture.

Buy furniture for your home that is built to last

You may think at the time that buying pieces that cost less is the route to go. It may seem cheaper at the time but how lasting is it?

The best practice is to search for furniture that is made with solid hardwood frames. Hardwoods increase the strength and durability of the piece.

This furniture will hold up to everyday wear and last much longer generally. The cushions or fabric may become worn and discolored over a long period of time, but you still have a sturdy long-lasting solid wood frame. Besides cushions and fabric can easily be replaced at a fraction of the cost.

When selecting a fabric for furniture, keep in mind what and who will be on the furniture.

Do you have young children, pets, teenagers, high volumes of guests and entertain frequently in your home? Micro-fiber is a great choice for all as it is very durable and can be stain resistant.

Another good idea is to purchase or make it yourself slip-covers. This protects the original fabric from spills, pet hair, snags and tears. With slip-covers when they get soiled, just pop them in the washing machine.

Give careful consideration to the color of the fabric you select

Remember that you will most likely be looking at this color and pattern for a long time. A good rule of thumb is to stay with neutral colors that are timeless and not trendy.

Think long-term while making your selection for your new home.

Will you still be in love with this pattern and color years from now?

If you are bold and feel that you have fairly good design skills, then go all the way and have some fun with your furniture colors and make a statement!

Whether you are buying a table and chair ensemble that are sold as a set, or if you have a unique table and want to compliment it by adding a few designer chairs that are all different.

The most important thing that matters is that there are some basics you need to understand about arranging a dining area.

First, make certain that the table fits the space.

Your dining table should be in good proportion to the size of the room

Second, make certain that you provide enough space to comfortably get in and out of the chairs and that there is enough room to walk around the table.

A good rule of thumb is to allow a minimum of two feet between each person. If you have the space, three feet would be generous and feel like a nice comfortable space.

If you are going to shop for a new table, lucky you!

Here are some things to remember when table shopping: Always sit down and try out the table for feel. Is the height of the table just right for your guest? Be sure to lean on the table and check it out for sturdiness. If it seems weak or slants to one side when you lean on it, forget it and move on to another table.

Also, don’t forget to look under the table to see what kind of legs it has. Tables with pedestals make a nice looking table for traditional decor.

When it comes to chairs, there are a wide array to choose from.

Be bold! Dining chairs do not have to match the table.

Adding a few different chairs styles can make for a very interesting look that will be noticed by all.

Whether your style is eclectic, contemporary, modern or traditional, you should purchase the appropriate chairs for the ambiance you wish to create.

Oh, one last tip, make sure the chairs are in line with the height of the table. It’s also a good idea to sit in the chairs and see if they work at all angles. Above all, do not purchase chairs just because they look good or match your décor, they have to flow.

Are you ready to decorate?

Remember that warm colors stimulate conversation.

Try painting an accent wall a soft warm color, or cover them with a rich textured patterned wallpaper. Soft contemporary hues like creams, wheat and light green together with white moldings will give the room a soothing and airy feel.

To add serenity, note the curves in the picture: the pedestal, the flare on the dining chairs and the roundness of the buffet. There are not many sharp edges here to jar a mood; simple and filled with character.

Good dining light is essential

Lighting should be subtle yet sparkling. Bright overhead lights, other than chandeliers, are not well-suited to dining areas. Even chandeliers work best with dimmer switches.

Consider adding an over sized beautiful mirror to your dining room. That will add glam and sparkle and can often reflect the silver utensils and glassware.

Whatever your dream or vision for your dining room, modern or traditional, sheik or contemporary, there is one thing for sure – many very important conversations will be taking place in this room over the years. So do your best to make it memorable by creating a room that you love.