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Brett's Mortgage Blog

Price Hits On These Loans Starting Next Month…

mortgage lenders near memortgage lenders near meI 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

 

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Brett Sampson

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