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Great news for First Time Homebuyers! Fannie Mae has announced they will allow for including rental payment history when considering a mortgage application.
Fannie Mae CEO, Hugh Frater was quoted from a blog post made in August this year “It seems obvious that if someone is paying rent consistently it’s likely they could and would pay their mortgage consistently, too,…”
Mortgage giant Fannie Mae now allows rent payments to count on mortgage applications
How do you think this will impact first time homebuyers?
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