What The Self-Employed Need to Know About Home Loans

Qualifying for a mortgage can be more complex for someone who does not have pay stubs and a W2 form to verify consistent income. If you’re an entrepreneur with your own business and fall into this category, don’t worry—there are loans for you. You just need to know how to navigate. I asked RPM’s EVP, Julian Hebron, to explain how specialized loan products serve the specific needs of self-employed home buyers.

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Fannie Mae Loan Updates Are Good News for Buyers

Fannie Mae recently announced changes to conforming loan guidelines and all of the updates are potentially very good news for borrowers. In fact, a recent Forbes article stated that “mortgage financing will become more available to more home buyers as a couple of game changing underwriting guideline enhancements come online.” It’s important to understand what has changed and what it means in terms of qualifying for a mortgage. Here are some highlights:

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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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Four Tips for House-Hunting Millennials

If you follow the news surrounding the housing market, you know that the reluctance of millennials to purchase homes has been a contributing factor for holding back economic recovery. New to the world of real estate, millennials face financial challenges that are magnified by factors such as student debt, a tough job market and a lack of credit history to qualify for loans. The vision of a dream home is often more grand than their budget reality.

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