I wanted to let you know that next month starts an extra loan level price hit on Conventional loans if the debt to income ratio is over 40%, which many loans are. This is coming from the Fannie Mae / Freddie Mac level.
As a consequence, I would say we are going to be seeing more FHA loans being done.
FHA does give you more flexibility on credit scores (3.5% down to a 580 credit score), debt to income ratio, and credit underwriting.
So, if you need to be prequalified for a loan contact our offices and we can see which loan fits you best.
That’s it for today!
Thanks for reading!
Brett