Florida Home Loans News

Fannie Mae Made It Easier to Qualify for a Mortgage July 29, 2017

Fannie Mae is making it a little easier for people with all kinds of existing debt – including student loans – to qualify for mortgages.. mortgages. The change will kick in on July 29.

People often confuse Freddie & Fannie and Ginnie Mae. As a reminder, Ginnie doesn’t buy mortgages like F&F. Ginnie Mae is a government-owned corporation whose purpose is to make mortgages. in.

After mortgage-financiers Fannie Mae and Freddie Mac imposed the strictest loan standards in more than a decade, she doesn’t qualify. Pam Crawford of Lyon. the Realtors said june 29. americans are.

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Fannie Mae serves the people who house America. We are a leading source of financing for mortgage lenders and our financing makes sustainable homeownership and workforce rental housing a reality for millions of Americans.

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Fannie Mae, the largest US mortgage lender, is making it a little easier for people with all kinds of existing debt – including student loans – to qualify for mortgages. The change will kick.

But the July 29th release of Fannie Mae’s Desktop Underwriter makes it possible for many applicants who didn’t qualify before to now qualify because of an updated risk assessment that allows for higher debt-to-income ratios. Under DU Version 10.1 release, Fannie Mae increased its maximum allowable DTI ratio to 50%.

It’s true that a 20% down payment is the mortgage industry. the maximum allowable DTI under Fannie Mae’s guidelines was 45%. However, as of July 29, 2017, this maximum has been raised to 50%,

 · Easier Qualifying for Borrowers with student loan debt Due to a recent decision by Fannie Mae, getting approved for a mortgage when you have student loan debt will be a lot less difficult. Fannie Mae recently announced a few new changes that will help borrowers with student loan debt be eligible for mortgage financing.

Fannie Mae Allows Co Signors to Help Buyers Qualify. So if a borrower cannot get under the 50% ratio requirement, then there is another great Fannie solution. A co signor on the loan could help lower a debt ratio. Check out our article explaining "How a Mortgage Co signor May Help You Qualify for a First Home".