Mortgage rules are changing. Today's home buyer will need to know what these changes are and how they impact their ability to purchase a loan as well as the types of loans currently available. You may initially think that this limits your buying ability, but in the long term, these changes will help ensure that home loans are safer for many people. Nevertheless, if you are buying a home, you need to know more about these new mortgage lending requirements and be ready for what they mean to you.


One of the biggest challenges that will affect mortgage lending has to do with the self-employed. The new requirements will require more focus on proving earnings to ensure that the borrower actually has the funds available to maintain payments on…

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As you consider purchasing a new home, one of the first steps you should take is to consider home loans. Nearly all home buyers purchase using a mortgage. Not only does it make home buying more affordable, but it also ensures that the buyer is able to reduce risk by not putting all of his or her savings into the home purchase. However, there are many types of loans available. Choosing the right one can make a big difference in the long term.

FHA Loans

One of the options available to many people who are considered first time buyers (this is anyone without homeownership in the previous three years) is an FHA loan. This type of home loan offers flexible features, including lower down payment requirements (sometimes as low as three percent instead of the…

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