Applying for a First Mortgage
The requirements of conventional lenders are as strict as they have ever been. Recent new “Stress Test” rules implemented by the federal government are now taking their toll on new home purchasers as well as those looking to refinance their home.
Let us walk you through ongoing rule changes and how they affect you personally. Better Option Mortgage’s extensive portfolio of institutional and private lenders enables us to arrange financing for those who may no longer meet the requirements of the conventional lenders.
Many of the borrowers who contact us are having trouble meeting some of the criteria that conventional lenders require to qualify for a loan. Often this is the result of: