Fannie Mae Introduces New Underwriting Innovation to Help More Renters Become Homeowners

One of the most rewarding things we get to do as Realtors® is helping renters and first-time homebuyers achieve the dream of homeownership. But getting approved for your first mortgage is traditionally very difficult. However, Fannie Mae just made it easier for renters to qualify for a mortgage. Beginning September 18th, Fannie Mae began considering consistent, on-time rent payments into your overall credit history. So now when a renter makes that monthly payment they will actually get credit for it and it will increase their chances of getting approved for a new mortgage. [Fannie Mae Introduces New Underwriting Innovation to Help More Renters Become Homeowners]