It used to be that when someone applied for a conventional loan, the down payment required could be as much as 20 or even 30 percent or more. That kept many buyers away from homeownership simply because they couldn’t save up enough for a down payment. Private mortgage insurance began as a way to make […]
Most every mortgage loan issued today is a loan lenders refer to as a Qualified Mortgage Loan (or QM). When the Consumer Financial Protection Bureau, or CFPB, was created one of the first set of guidelines issued was to establish common sense, universal lending requirements mortgage companies could follow when processing and approving a mortgage […]
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