Qualifying for a mortgage could get a bit easier


COMMUTE, AT 16 MINUTES HEADING INTOOCEAN SIDE JASON

>>> GOOD NEWS THIS MORNING FOR PEOPLE LOOKING TO BUY A HOME IN SAN DIEGO WHEN IT COMES TO QUALIFYING FOR A MORTGAGE WE HAVE THE CHANGE THAT COULD CHANGE MORE SAN DIEGO RENTERS INTO HOMEOWNERS >>REPORTER: ALL SORTS OF THINGS CAN KEEP YOU FROM QUALIFYING FROM A MORTGAGE LIKE STUDENT LOAN DEBT OR CREDIT CARD DEBT BUT NOW IT COULD BE GETTING A LITTLE EASIER TO GET INTO A HOME LIKE THIS ONE >> IT'S A BIT OF A STICKER SHOCK >>REPORTER: THAT'S HOW MEGAN REACTS WHEN SHE SEES A HOME PRICE IN SAN DIEGO

>> WITH SINGLE INCOME AND STUDENT LOANS AND MAKE AGO GOOD SALARY, IT'S NOT QUITE CUTTING IT >>REPORTER: A FEW YEARS OUT OF LAW SCHOOL BUT SAYS THE HIGH RENT IS KEEPING HER FROM SAVING UP FOR A DOWN PAYMENT AND HAVE TO QUALITY FOA MORTGAGE STARTING THIS WEEKEND, FANNY MAY COULD MAKE IT A LITTLE EASIER THE GOVERNMENT SPONSORED ENTERPRISE WILL BACK LOAN WITHS 50% DEBT TO INCOME RATIO UP FROM 45% A PERSON MAKING $7,000 AMONTH WITH $300 IN EXISTING MONTHLY DEBT COULD BE A $400,000 HOME AND UP THE RATIO TO 50% AND THE SAME PERSON CAN BUY A $540,000 HOME

>> IF YOU WANT TO BUY A HOME AND YOU — THAT HOME YOU WANTED WAS A LITTLE BEYOND YOUR CAPACITY LAST MONTH, MIGHT BE WITHIN YOUR CAPACITY THIS MONTH >> FITZPATRICK HOPES TO TAKE ADVANTAGE >> I WAS BORN HERE BUT DON'T KNOW IF I CAN STAY HERE >>REPORTER: BEFORE IT'S TOO LATE >> GOLDMANN IS NOT CONCERNED ABOUT THE LOANS LEADING TO A HOUSING CRISIS BECAUSE OF NEW CREDIT CHECKING METHODS

FREDDY MACK BACKS A 50% DEBT TO

Source: Youtube


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