Getting A Conventional Mortgage May Be Getting Easier

Dated: 10/21/2014

Views: 381

I just read an article about the Federal Housing Finance Agency and their plans to loosen the rules on qualifying for a mortgage.  That's great news!  Some of the changes include smaller down payments.  Currently the minimum down payment on a conventional mortgage is five percent.  The new minimum could be as low as three percent.  That's lower than FHA's mortgage minimum of, currently, 3.5%.
Other changes refer to banks' buyback of defaulting mortgages, which may also end up trickling down to the consumer/borrower in the form of easier credit score qualifications.
Change, once again, is coming to the Mortgage Industry, and this change looks to be for the better. 
More

Latest Blog Posts

How To Find The Perfect Real Estate Agent

There’s a ton of real estate information available in the news today and on the Internet. It can be extremely confusing, especially in times of uncertainty like we’re facing right now.If you

Read More

The Difference An Hour Makes

Some Highlights: Don’t forget to set your clocks forward this Sunday, March 8 at 2:00 AM EST in observance of Daylight Saving Time, unless you’re a resident of Arizona or Hawaii!

Read More

YearOverYear Rental Prices On The Rise

Year-Over-Year Rental Prices on the RiseLooking ahead, 2020 is projected to be a strong year for homeownership. According to the Freddie Mac Forecast, “We expect rates to remain low,

Read More

Thank You For All Your Support

Thank You for All Your

Read More