Should I Rent or Buy a House?

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The Rent Race If low mortgage rates weren’t enough to push you toward home buying, the latest rental analysis might be. The trends show that rising rents are causing almost 20 percent of today’s renters to struggle with monthly payments. Plus, it’s not just America’s lower-earning residents who are having trouble keeping up with rents. Those […]

The Truth Behind Down Payments

Homeownership might be the most important goal for millennials, according to a recent report by NerdWallet, however, there is some misunderstanding as to how difficult of an obstacle securing a down payment truly is. NerdWallet commissioned an online survey of more than 2,000 U.S. adults conducted by Harris Poll to discover how Americans understand down […]

Pre-Qualification credit pulls & your FICO score

How much will inquiries really affect your FICO score? by Dave Hershman18 Jul 2017 I am confused about how inquiries will affect a FICO score, especially when someone is shopping with multiple lenders for a home loan. Some say there is no real effect. Others say it can have a negative effect. Can you set the […]

It Suddenly May Be Easier To Get A Mortgage!

Two major changes in the mortgage market go into effect this month, and both could help millions more borrowers qualify for a home loan. First, the nation’s three major credit rating agencies Equifax, TransUnion and Experian will drop tax liens and civil judgments from some consumers’ profiles if the information isn’t complete. Specifically, the data […]

The TRUTH about Credit Inquiries & Your FICO Score

How much will inquiries really affect your FICO score?  I am confused about how inquiries will affect a FICO score, especially when someone is shopping with multiple lenders for a home loan. Some say there is no real effect. Others say it can have a negative effect. Can you set the record straight? -Donnie from Nebraska  […]

GSE Low Down Payment Mortgage Program Adjusts Area Median Income

Area median incomes (AMIs) for Fannie Mae and Freddie Mac’s low down-payment mortgage programs have changed recently, and that’s a good thing, according to United Wholesale Mortgage President and CEO Mat Ishbia. Fannie’s HomeReady and Freddie’s Home Possible offer low down payment mortgages for low- to moderate-income borrowers. AMIs establish income eligibility standards for those […]

Finally…Some Good News!

The country’s largest source of mortgage money, Fannie Mae, now plans to ease its debt-to-income (DTI) requirements, possibly opening the door to home-purchase mortgages for a large number of new home-buyers. Fannie recently stated that they will be raising their DTI ceiling from the current 45% to 50% as of July 29! As usual, of […]