It’s Going To Get a Little More Difficult to Get a Loan
Dan Winters of WHO-TV asks, “What Should a Home Buyer Be Doing To Secure Their Loan Approval?”.
On Saturday, we sat down and talked about the upcoming changes from Fannie Mae, specifically, the guidelines that take effect on Tuesday, September 1, 2009.
Take a look at the interview below:
Some key take-aways are:
- If you’re relocating and need your spouse is still looking for work, get your application in ASAP.
- If you’re buying a 2 unit property (not specified in the interview, it was lost in editing), you should determine if these changes will impact you.
- Credit scoring is becoming even more important in mortgage approvals.
- The key is to work with a mortgage originator that is keeping you informed if changes to guidelines impact you.
If you are looking for advice on your loan approval, please don’t hestiate to contact me. My team and I would love to help you out!