Mortgage rules are changing. Today's home buyer will need to know what these changes are and how they impact their ability to purchase a loan as well as the types of loans currently available. You may initially think that this limits your buying ability, but in the long term, these changes will help ensure that home loans are safer for many people. Nevertheless, if you are buying a home, you need to know more about these new mortgage lending requirements and be ready for what they mean to you.
One of the biggest challenges that will affect mortgage lending has to do with the self-employed. The new requirements will require more focus on proving earnings to ensure that the borrower actually has the funds available to maintain payments on…
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