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Conventional Loan Blessing, or Much Ado About Nothing?
Conventional Loan Blessing, or Much Ado About Nothing?
 
     Recently, there's been a lot of talk about Fannie Mae's increasing debt-to-income threshold, along with changes to credit reporting that should reduce the number of folks effected by judgments and liens when it comes to a mortgage application.  This is being promoted as big news across a wide spectrum of housing news outlets, and for good reason - from 2008 through 2015, there was little, if any, positive news coming from the mortgage world.  Loans were getting tougher to get, guidelines were stiff, many people were denied, and the stack of documentation to get a loan was getting bigger and bigger.

 
     These days, things are a little different.  Guidelines have loosened some, there are more 'common sense' measures in place, and technology has reduced the amount of paperwork to get a loan to 'next to nothing' for well qualified and salaried borrowers.  
 
     While any positive news certainly is news, fact is twofold with regard to this news:  Both FHA loans and conventional loans already allow for debt-income ratios (DTI) to reach 50%.  VA loans also allow much higher DTI ratios as they rely on DTI and the residual income of a borrower ... more

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