Cherry Creek Mortgage
Mortgage News 28 July 2017

Exciting news for first-time homebuyers!

Buying a home is about to get easier...Fannie Mae is easing some qualification requirements, making conventional loans more accessible for first time homebuyers.

WHATS NEW:

  • 3% down on Fixed Rate Mortgages (FRM)
  • 5% down on Adjustable Rage Mortgages (ARM)
  • Debt to income ratios are increasing from 45% to 50%
  • More self-employed borrowers will be elegible to only provide 1 year of income tax returns
  • More automated home evaluation
  • Relaxed guidelines for student loans

Contact your Premier Mortgage lender for more information!