Lenders begin to ease the rules.
It’s about time. The pendulum always swings from one side to another.First it went to the extreme of just fogging a mirror to get qualified. Then after the crash it went to: you have to have a 760 fico to get qualified. Finally it’s moving back to a more normal range.
FHA recently went back to its 3% down loan and then reduced some of the costs for mortgage insurance.
So if you have been thinking about qualifying, check it out again. If you were turned down in the past, it might work for you.
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