Fannie Mae Removes Minimum Credit Score Requirement

Fannie Mae has announced a major mortgage guideline update effective November 2025: the minimum credit score requirement for Desktop Underwriter (DU) loan approvals will be removed. Instead of relying on a single credit score, DU will assess a borrower’s full financial profile, including payment history, income stability, debt-to-income ratio, and non-traditional credit such as rent and utility payments. This change may expand homeownership opportunities for first-time homebuyers and borrowers with thin credit files. However, lenders may still apply their own minimum credit score standards, known as overlays. Buyers should understand how lender guidelines, DU findings, and documented financial behavior will interact under the new system. Learn what this update means, who benefits, and how to prepare for mortgage approval under the new eligibility framework.

MMCNovember 6, 2025Comment

How Much Home Can You Really Afford? A Straight-Talk Guide for First-Time Buyers

Buying your first home starts with knowing exactly how much you can afford—not just what a lender says you qualify for. This detailed guide explains how to calculate affordability using debt-to-income ratios, full monthly housing costs (PITI), and other things to consider. Learn how to avoid becoming “house-poor” and plan for future expenses like rising taxes, insurance, and maintenance.

FHA, Home Buying, Learn, Advice, TipsMMCAugust 13, 2025HomeBuying, first time Home Buyers, affordabilityComment

Big FHA Update: Who Can Qualify for FHA Loans Just Changed (March 2025)

FHA Loan Eligibility Update 2025: What Homebuyers and Real Estate Agents Need to Know
As of May 25, 2025, the FHA has revised its guidelines, eliminating loan eligibility for non-permanent residents—including DACA recipients and visa holders. Learn how this major change impacts FHA borrowers, what documentation is now required, and what alternative financing options exist. Stay informed with our expert breakdown tailored for first-time homebuyers and real estate professionals.

Home Buying, FHA, ResidencyMMCMarch 26, 2025FHA, HUD, PresidentComment

Step-by-Step Guide to Buying and Selling a Home at the Same Time

Buying and selling a home simultaneously can feel overwhelming, but with the right strategy, it’s completely manageable. Learn the essential steps, from pre-approval and home prep to negotiating offers and closing smoothly. Whether moving across town or across the country, this guide will help you navigate the process with confidence.

MMCFebruary 5, 2025Comment

The Ultimate Guide to Choosing the Best Home Insurance Policy: Protect Your Home & Save Money

Choosing the right home insurance policy is crucial for protecting your home and finances. This guide covers key factors, including coverage types, deductibles, exclusions, and how to find a trustworthy insurance agent. Learn about industry trends, cost-saving discounts, and expert tips to ensure you get the best protection for your home. Read more to make an informed decision!

Home Buying, Refinance, Advice, TipsMMCFebruary 1, 2025Maritime Mortgage CorpComment

Earnest Money Deposits: Protecting Your Investment and Securing Your Dream Home

Excerpt:
When buying a home, an earnest money deposit (EMD) is one of the first financial commitments you’ll make. This good-faith deposit reassures sellers of your intent while securing your offer. But is it refundable? How can you protect your investment? This guide breaks down everything you need to know about earnest money deposits, from contingencies to escrow accounts, ensuring you navigate the home-buying process with confidence. (Disclaimer: This article is for informational purposes only and does not constitute legal advice.)

MMCJanuary 30, 2025Comment

FHA Loans Remain Operational Amid Federal Funding Freeze

Wondering how the recent federal funding freeze impacts FHA loans? Good news—HUD confirms FHA programs remain fully operational, providing stability for homebuyers and the housing market. Learn why FHA loans are unaffected and what this means for you in uncertain times.

Home Buying, LearnMMCJanuary 28, 2025HomeBuying, FHAComment