Mortgage Rules Will be Changing

Mortgage Rules Will be Changing

Mortgage Rules

Mortgage Rules Will be Changing

Thinking of buying a home and need a mortgage in the near future?  Well, with some of the upcoming changes slated to take place in 2014 related to mortgage lending, you may want or even need to get that home closed sooner rather than later.   The changes are related to stricter lending standards that many lenders have already implemented due to efforts to correct the errors that led to the recent housing crisis.  Some of these changes include lessening the allowable debt-to-income ratio, even more scrutiny and stricter borrowing guidelines for the self-employed, more difficulty getting a smaller loan due to new fee limits and possible lower loan limits overall.  For a more detailed article outlining the upcoming changes, follow this link:

 Realtor.com

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