So what's going on in the housing market?
In January 2014, the Consumer Financial Protection Bureau (CFPB) released a set of rules designed to make home loans safer and involve fewer surprises. The CFPB has now introduced the concept of a "qualified mortgage," an analysis which proves you meet certain criteria and your ability to repay the loan.
With a "qualified mortgage," you avoid unnecessary borrowing risks, and lenders have limits on how much they can charge in fees. These changes should make borrowers feel more confidently about the home loan process. (For more details, read this article.)
Email me today to learn more about "qualified mortgages." I am happy to answer any questions you have.