Buyers: March 18th Amortization Changes
Just a reminder if you are in the market to buy...
From a mortgage broker whom I have used:
- Maximum amortization is changing from 35 to 30 years.
- The amount a person can refinance their home from 90% loan to value to 80% loan to value.
- Removing the ability to insure Home Equity Lines Of Credit
While these rules take place on March 18th you will still be able to qualify under the old guidelines if a mortgage application is approved prior to the deadline.(Regardless of possession date)
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