Do you want a better chance of your purchase mortgage loan being approved? YES!
Solution:
Starting September 18, Fannie Mae will include twelve months of positive rental payments history in its underwriter program in the loan approval process.
Borrowers must:
- Be first-time homebuyers
- Pay a monthly rent of at least $300
- Purchase the house as a primary residence
- Consent to sharing twelve months of bank statements history
This is a great addition, because it can work in a borrower’s favor, potentially impacting 17% of borrowers who were recently declined would have been approved, had this policy been in place.
When you want the most accurate mortgage information, best loan programs at the lowest rates and fees, call Dan the Man at 714-310-4162.
Recent review on Google:
“Dan Stone solved my loan issue in days after spending 3 months with other brokers for a tricky property. He helped me find the right lender for my property and the loan terms were twice as good as the other brokers I had been trying to get the deal done with. Dan also has great follow-up and worked with the Lender to keep things moving on track. Dan is now my one-stop shop for all my real estate needs. Save the hassle and call Dan first! I have bought and sold dozens of properties and Dan was the best “finance person” I have ever worked with.” – Mitchell M.