What is Payment Shock? When you purchase a home, some of the available financing programs will look at what you presently pay in rent and compare it to your new house payment to determine the “payment shock” to your budget. That’s why it’s always important to talk to your lender before you start shopping for a home, so let’s chat!
Related Article Title: USDA – Major Revisions to Chapter 10 – Credit Analysis Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: On December 19, 2019 USDA Rural Development announced upcoming […]