Fannie Mae is easing debt to income ratio!
Calling all Millennials, First Time Buyers, those with student loan debt, etc, etc, etc. Fannie Mae is easing the debt to income ratio! Coming next month mortgage applicants will now be able to have a debt to income ration of 50%, up from 45%. Almost done paying off that student debt? This may help you qualify for a home loan that was previously out of reach.
It's the perfect time to get pre-approved for the upcoming Fall housing market (I know, I know, we are JUST getting into summer!).
This Spring was fraught with low inventory and buyers competing over houses. If you weren't approved, forget about trying to compete against other buyers interested in the same house.
Read the entire article here: