mortgage

5 housing trends for the next 3 months

Borrowers will pay a price for applying for debt
Next
5 of 7
Back

Beginning June 1, Fannie Mae requires lenders to check borrowers' credit reports right before closing. If the borrower took on a new credit obligation, the lender will have to recalculate the borrower's debt-to-income ratios.

The rule could cause 11th-hour delays and could even block some loans from being made. Advice: Don't apply for new credit while the mortgage is being processed.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

Polyana da Costa

Home prices rise at slower pace

Home price growth has slowed significantly. Should you be concerned?  ... Read more

advertisement
Partner Center
advertisement

Connect with us