There are a lot of roadblocks when it comes to applying for a mortgage.
For example, if your income isnt high enough, your debt-to-income ratio could keep lenders from approving you.
The press release does suggest the change is aimed at multi-income households, which makes sense.
However, theres the elephant in the room:buying a home you cant necessarily afford.
Just because youcanget a loan doesnt mean its a smart financial move.
Everyones situation is different, but post housing crisis, this is an issue were all too familiar with.
Fannie Mae plans to address it with a mandatory home-buying course called FrameWork.
An even better idea?
Do your own research about home buying and double-check youbuy a home you might actually afford.
you might read more about the new rules at the link below.
Fannie Mae Announces Improved Affordable Lending Product| Fannie Mae viaMoney Talks News
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