All homeowners have been renters at one point. Right before a renter will make a move up to home ownership and become a first time homeowner, they will talk to a mortgage lender like me to see how much of a mortgage they might be qualified. What do you think the rules are for a renter as far as how much mortgage they can qualify for? They are the same rules as anyone else. The debt ratio limits are the same. The income requirements are the same. The credit score requirements are the same.
The one thing that is different is Read the rest of this entry »