New Credit During Mortgage Application Process a No-No

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In an effort to improve the underwriting quality of home loans delivered to mortgage financier Fannie Mae, lenders will be required to take a closer look at your debt obligations beginning next month.
Come June 1, lenders will be directed to “review and evaluate the “inquiries” section of the borrower’s credit report to determine [...]

3 Big Reasons Not to Wait to Buy a Home

 
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If you are thinking of buying a home, now may be the best time to do it.  Whether you are a first time home buyer, thinking of buying a new primary residence or know someone who is I want to share some important upcoming dates.
Uncle Sam’s help for First Time and Repeat Buyer’s end soon.  [...]

Fannie Mae Tightens Mortgage Rules Again

Fannie Mae tightens lending rules again!
Fannie Mae, the giant mortgage finance company that helps shape lending guidelines, is raising minimum credit score requirements and will limit the amount of overall debt that borrowers can carry relative to their incomes. 
Starting Dec. 12, the automated system that Fannie Mae uses to approve loans will reject borrowers whose [...]

There Is More To Consider Than Monthly Payments

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Historically Low Mortgage Rates and Housing Prices Open Door to New Homeowners
The upside of the housing slump has been that potential homeowners
previously priced out of the market are finding that they can afford the American
Dream thanks to a combination of lower resale and new home prices along withrecord [...]