We Are Pulling Credit Report Right Before Closing

Fannie Mae made some changes in the last 30 days that could delay closings… as a lender, we are now required to verify that any credit inquiries you have in those last few days prior to closing are not really an extension of credit!  So don’t buy a sofa, or a refrigerator… or ANYTHING ELSE [...]

Credit Score Requirements Going UP!

On December the 12th, Fannie Mae is changing it’s “Computer Program” to reflect a new minimum credit score requirement for mortgages of 620. This is SIGNIFICANT because VA Mortgage Loans, FHA Mortgage Loans and USDA Rural Development loan guidelines indicate that the Government will insure loans with scores substantially lower than this… however, if a [...]