LATEST MORTGAGE RULES AS OF OCTOBER 17TH, 2016:

It’s not just the stress test that new homeowners have to be cognitive of…No more than 39% of income can be allotted to home expenses & the total debt service can not exceed 44% of income…interest rates are at an all-time low; personally agree with the latest changes!!! Some homeowners are currently maxed out, if the rates go up it will potentially bankrupt them!!!

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