Texas Home Lending News

GREAT NEW FOR RENTERS

March 11th, 2022 3:25 PM by Shawn Smith NMLS#863501

On-time rent payments can now help you get a home loan!!!!

Fannie Mae (the government agency that backs many mortgage loans) will now use on-time rent payments as a factor when granting a mortgage. Fannie Mae estimates that 17% of previously denied applications could have been approved if rent payments were considered, so the change promises to help a lot of homebuyers.

Though we’ve always documented rent payments as part of our application process, they can now make up for insufficient credit accounts and add real merit toward approval.

If you or someone you know has put off homeownership for fear of inadequate credit, it may be worth taking a second look.

Reach out, and we’ll be happy to answer questions or to help in any way we can.

Shawn Smith NMLS 863501 817-706-8619

Posted in:REAL ESTATE MORTGAGEPosted in:REAL ESTATEPosted in:REALTORS and tagged: REAL ESTATE MORTGAGE real estate sell real estate real estate agents

Posted by Shawn Smith NMLS#863501 on March 11th, 2022 3:25 PM

Home Status Report

Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.

Texas Home Lending News

GREAT NEW FOR RENTERS

Recent Posts:

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog:

Home Status Report