Beginning September 18, 2021, Fannie Mae’s Desktop Underwriter® (DU®) will enable single-family lenders – with permission from mortgage applicants – to automatically identify recurring rent payments in the applicant’s bank statement data to deliver a more inclusive credit assessment. For qualified renters who may have a limited credit history but a strong rent payment history, Fannie Mae’s DU enhancement creates new opportunities for homeownership while promoting safe and sound lending. Check here: Fannie Mae Introduces New Underwriting Innovation to Help More Renters Become Homeowners
Are you a renter thinking of becoming a homeowner? If you need guidance through the process, call/text Inga at (914) 222-0395 to schedule an appointment. In the meantime Search for homes for sale.