Fourteen percent (14%) of respondents surveyed by the Federal Reserve Board received income from self-employment in 2016. And nearly 15 million Americans are self-employed based on Pew’s research.Up until now, it’s been widely known that there are great challenges faced by self-employed Read more
Is Your DTI High? 45%–Even 50%? You Could Qualify Under Fannie Mae’s New Rules
With the recently higher property values and record levels of debt in America today, many applicants have been pushing the upper limits of allowable debt-to-income (DTI) ratios. High DTI ratios have always been an issue, an impediment even to getting a mortgage.But the July 29th release of Read more
Fannie Mae Tackles Student Loans, Timeshares and More in Far-Reaching Mortgage Guideline Update
Fannie Mae’s rollout of Desktop Underwriter® Version 10.1 on July 29, 2017 was more than just a periodic software update. The new release had significant changes that signaled the government-sponsored enterprise’s (GSE) loosening of its mortgage guidelines on several fronts to widen mortgage credit Read more
1.5-Mil. Homebuyers Put Less Than 10% Downpayments, Says Black Knight
Black Knight Financial Services, Inc. observed an increase in the number of homebuyers who put less than 10% downpayments for the past 12 months, reaching a seven-year high. According to BKFS’s Mortgage Monitor Report for the period ended June 2017, these low-downpayment loans accounted for 40% of Read more
Buying a Multi-Family Unit Home
Finding financing to purchase a duplex or a multi-family unit property is achievable. There are many different loan products designed for this property type. What determines the kind of loan you get is whether you will occupy it or not.Owner-occupants may avail of government-backed loans as well Read more
