Home Financing Secrets Revealed
Part Two

Fannie Mae wants you to know this insider's formula for creating your new dream home success. Ignore this formula and forget your new dream home.

In the previous report, we discussed the importance of your credit score, i.e. your "middle" score pulled from a "tri-merge."

In this report, you will discover the insider's formula for creating your new dream home success. Once you gain this powerful knowledge, you no longer will have to sit on pins and needles wondering if you'll "pass" or "fail".

You're not in grade school any longer with a teacher holding your immediate future in his or her hands.

You really can have control over the type of home loan you choose...once you discover these powerful strategies.

Question: Does your debt-to-income ratio comply with the Fannie Mae or the Freddie Mac benchmark ratio, i.e. 41%?

What this means is that underwriters (risk assessment gate-keepers for lenders who determine whether you receive the money for your new home) for banks, credit unions, etc generally utilize Fannie Mae or the Freddie Mac benchmark ratios.

Loan underwriters will allow 41% of your total monthly gross income to go toward expenses including housing, medical payments, judgments, collections, child support, auto payments, credit cards, etc.

Generally, the "better" loan programs adhere to Fannie Mae Standard Eligibility Guidelines for underwriting the loan and determining risk to the lender.

However, many other loan opportunities exist.

And this defines the value of a mortgage specialist -- your mortgage specialist must ask you lots of questions.

By asking the right questions, listening carefully to your answers, and knowing the requirements of various loan programs, the mortgage "specialist" with whom you choose to work can recommend the most appropriate loan program.

Stay tuned for e-lesson # 3. We will dissect a credit report, your personal and public "closet" of information. Disregard your credit file and jeopardize the new job you're pursuing, the new car you're wanting, or even what the utility companies and your cell-phone service provider require for a down payment.

Please email me with any questions about this or any other e-lesson. If you have suggestions for other real estate or home financing reports, let us know.

Mike Payne, a Realtor with Horizon Realty and a licensed mortgage broker, specializes in providing Rent to own Florida Home || Florida Rent to Own Homes.

To read other FR*EE special reports about buying or selling a home, visit Rent to Own Florida | Florida Lease Options.