When you're navigating the lending world, especially here in the San Fernando Valley and Greater Los Angeles, you’re going to hear two terms thrown around a lot: Qualified Mortgage (QM) and Non-Qualified Mortgage (Non-QM). They sound technical, and honestly they are. But understanding the difference ... » Learn More about Not All Mortgages Are Created Equal: Understanding the Power of Non-QM Loans
Qualified Mortgage
Big Changes and Flexibility On Mortgage Qualifying Coming
The Consumer Financial Protection Bureau (CFPB) just issued final rules related to the Ability to Repay portion of Qualified Mortgage (QM). This will allow for some compensating factors for qualifying for a Freddie or Fannie loan, instead of the 43% Debt to Income (DTI) ratio. This change from ... » Learn More about Big Changes and Flexibility On Mortgage Qualifying Coming