I strongly encourage everyone considering buying a home in 2018 to read the following article I found in the Washington Post. Here are my key takeaways. For the full article visit the link below

• Lenders are lowering required credit scores and debt-to-income ratios for home buyers

• Many borrowers are confused over complex home loan rules

• Zero, 3 or 3.5 percent minimum down payments are readily available now

• Some lenders will allow lower credit score if the borrower can show compensating factors or other income

• 30 year fixed mortgage rates could rise to 5% by the end of 2018

• Find an FHA lender for lower down payment requirements

• The new debt-to-income ratio has been raised from 45% to 50~55%

• Borrowers can search for down payment assistance programs at downpaymentresource.com

Lerner, Michele. “Many Lenders Are Loosening Requirements for Prospective Home Buyers.” Washington Post, 22 Feb. 2018, www.washingtonpost.com/realestate/many-lenders-are-loosening-requirements-for-prospective-home-buyers/2018/02/22/5196ac7c-f006-11e7-b390-a36dc3fa2842_story.html?utm_term=.58a4352813a3.