Auto Added by WPeMatico

How the New Tax Reform Affects Deductions for Homeowners and Home Sellers

January 1, 2018, President Donald Trump’s new 7 year tax reform law became effective. Powered by WPeMatico

Fannie Mae Is Changing Its Debt-to-Income Ratio Requirements

Debt has been one of the leading reasons why many potential homebuyers have refrained from applying for a mortgage. Beginning July 29, however, this may not remain such a recurring issue. On this date, Fannie Mae will be changing its debt-to-income (DTI) ratio requirements from 45 to 50 percent. As Fannie Mae is one of [...]

By | June 10th, 2017|Mortgage News, mortgage qualification|Comments Off on Fannie Mae Is Changing Its Debt-to-Income Ratio Requirements

Get Mortgage Qualified – Even With Credit and Debt Problems

According to the U.S. Department of Housing and Urban Development, 2017 shows great potential for growth in home sales, especially since last year’s sales were the highest they’ve been since 2007. As a result, the real estate market has become increasingly competitive in many parts of the country—but this doesn’t mean mortgage qualification has matched [...]

By | February 4th, 2017|Mortgage News, mortgage qualification|Comments Off on Get Mortgage Qualified – Even With Credit and Debt Problems

Mortgage Qualification With A Part-Time Job

According to the Bureau of Labor Statistics’ latest employment summary, 5.9 million Americans work part-time jobs because of economic reasons. As a result, many potential homebuyers shy away from the opportunity to buy a home—but this should not be the case. In fact, mortgage applicants who work one or more part-time jobs can apply that [...]

By | November 16th, 2016|Mortgage News, mortgage qualification|Comments Off on Mortgage Qualification With A Part-Time Job

A New “Credit Card” Rule Is Making Mortgage Qualification Easier Than Ever

This year, nearly two-thirds of loan applications have been approved by mortgage lenders—and with a new “credit card” rule, these numbers are only expected to increase. According to the Federal Reserve, Fannie Mae has completely changed the way mortgage lenders calculate a borrower’s debt by altering the credit reporting industry. Powered by WPeMatico

By | October 5th, 2016|credit card rule, Mortgage News, mortgage qualification|Comments Off on A New “Credit Card” Rule Is Making Mortgage Qualification Easier Than Ever