The 68 Changes In Fannie Mae’s Guidelines

November 06, 2020 by Dan Green

The more things change, the more they stay the same.

Except in mortgages. Things never stay the same. Everything changes.

Take last year.

Government-backed Fannie Mae made 68 changes in its official mortgage rulebook. Sixty-eight.

That’s more than one per week and changes like that change the way that mortgage loans are approved.

  • In-between jobs and buying a home? Your lender can do that mortgage now.
  • Carrying debt from student loans? Your lender can exclude some of them now.
  • Making a small down payment? Your lender has more options for you now.

These changes are powerful — and also recently enacted — which is why you can’t rely on random webpages or your Aunt Jenny in real estate to tell you whether you’re eligible to get a loan.

You got to talk with a lender because everything changes and, right now, mortgage rules are as loose as they’ve been in a decade.

Talk with a lender. It’s an excellent time to see what you can do.

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