Before July 29th it was very difficult to get an approval with a debt to income ratio over 45%. Now, Fannie will allow up to 50% debt to income ratio.
The guidelines will ask for only one year of tax returns for self employed borrowers, instead of two years (previous guideline).
If you think either of these guidelines would help you, or you have questions about them – give me a call or shoot me an email.
That’s it for today!
Have a good day today! …and thanks for reading.