How to Protect Your Mortgage Pre-Approval

It’s smart to begin your search for a new home with a pre-approval letter. The pre-approval is more in-depth then a pre-qualification letter, which does not include a credit analysis. In order to provide a pre-approval, your lender will pull your credit, analyze your income and asset documentation, and calculate your debt-to-income ratio, resulting in a reasonably accurate estimate of your spending limitations. This will give you a good idea of what you can afford and may give you an advantage over the competition.

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2015 Policy Changes Benefit First-Time Homebuyers

Recent policy changes from FHA, Fannie Mae and Freddie Mac are intended to make homeownership a more attainable goal for first-time homebuyers. What are the changes and what difference will they make? For those planning to enter the housing market for the first time, the right opportunity may come sooner than expected due to more favorable guidelines and lower costs.

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