Thanks to the Dodd Frank Act in 2010 buyers are truly protected from Predatory Lending!!!
The
intent of this Act was to prevent another Recession aggravated by a
collapsing Housing Market. Some may argue that the Dodd Frank Act will
make it difficult for buyers to qualify, because of the Debt-To-Income
Ratio changing from 36% to 43%. That is a BIG change, however it is
best to look on the bright side. Once you are approved for a loan you
know that your are very capable of paying the mortgage with out
financial strain.
In order for Home Buyers to be in position to
qualify for a home loan we would simply encourage you to save your money
and to keep you debt low.
Simple and Easy!
What are your thoughts?
Trinity First Realty Services, Inc.
www.TrinityFirstRealtyInc.com
No comments:
Post a Comment