Courtesy of The Dawn Thomas Team

We have another great article from Gino Blefari, the Founder and President of Intero Real Estate. This one is entitled, Keeping Mortgages Accessible. Most people know that access to mortgages became infinitely harder after the crash as it was the result of many borrowers getting way more then they could pay. Now that we’re moving out of it and the market is on the upswing, what’s happening with mortgages? If you’re thinking about buying a home, reach out to The Dawn Thomas Team today.

“Access to mortgages has been a hot-button issue ever since the days of the housing boom. Back then, the issue essentially was loose underwriting that swayed so far in one direction that we ended up with a slew of borrowers who were in over their heads.

Then, as the housing recession set in and regulators started coming down on lenders, we saw a reverse in the opposite direction. For many months, lending became so tight that a lot of people no longer qualified to borrow money for a home.

A couple of interesting news items cropped up this past week on this story thread:

1.) Federal officials came out and said they will delay any reduction in the maximum size of mortgage loans eligible for backing by Fannie Mae and Freddie Mac until next spring at the earliest.

This is significant because it enables more borrowers to qualify for loans that tend to have better terms. Loans within the limits (called “conventional”) typically carry slightly lower interest rates and easier qualification standards than so-called “jumbo” loans that are above the limits. It can be ..