Fannie Mae has eliminated its longstanding 620 minimum credit score requirement for loans run through Desktop Underwriter, effective November 16, 2025. Here's who this change actually helps, what still gets scrutinized, and what it could mean for buyers in Colorado and New York.
Read MoreWith affordability top of mind, 50-year mortgages are back in the conversation, this time backed by a real Washington proposal. Here's how the math actually plays out on a $400,000 loan, who might reasonably consider one, and the alternatives worth exploring first.
Read MoreSeller concessions let the seller cover part of your closing costs without touching the sale price, but how much you can negotiate depends on your loan type and down payment. Here's how the limits work, and the negotiating tactics that actually get sellers to say yes.
Read MoreComparing lenders puts you in control of your budget and long-term wealth. Today, there are tons of different loan products out there and since interest rates can go up or down, a 0.25% difference can mean $50–$100+ per month and tens of thousands over the life of the loan depending on the loan type. Here’s a simple plan to save more and feel confident.
Get at least 3 written Loan Estimates. When applying, make sure to be consistent with the information you submit so you are comparing “apples to apples”.
Compare “apples to apples”:
Loan type (ie: FHA, VA, Conventional, USDA, Jumbo, etc) will determine your true costs. As an example, FHA loans have a 3.5% down option while VA loans have no down payment requirement.
APR or annual percentage rate is the total annual cost to borrow.
Down Payment and closing costs will vary depending on loan type and borrower profile.
Additional points or fees for things like rate buydowns or rate locks, if applicable
Choose the best overall fit: monthly payment, cash to close, timeline, service and accessibility. Then lock.
Apply within a 2-4 week window so multiple credit checks count as one.
Include banks, credit unions, online lenders, and brokers for a wider view. Each of these have their pros and cons. Outside of financial considerations, take into account client-centric service and their availability/accessibility to you outside of normal business hours (offers are often written and submitted during this time)
If you have questions, we’re here to help and point you in the right direction—free and no obligation. Tell us what you think, or reach out anytime at consumershomeresource.com/contact .
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