Thursday, February 13, 2014

Did you know that the Debt-To-Income ratios have changed?

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

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