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Buying a home in 2014 - A new weapon for bidding wars

By
Mortgage and Lending with Platinum Home Mortgage NMLS ID#283159

If you’re buying a home in 2014, your experience will be unlike any home buyers before you have gone through. In January QM (Qualified Mortgage) guidelines became the law of the land and lenders are scrambling to interpret when they apply.

In response to the fierce competition for homes in healthy metropolitan markets like most of Southern California, some mortgage lenders are taking steps to put buyers who must borrow on par with those offering to pay in cash.

Did Ya’ Know? Lenders had more than 400 guideline changes in 2013?

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