New mortgage lending rules issued by the Consumer Financial Protection Bureau will go into effect in 2014. These rules are intended to protect borrowers from some of the problematic lending standards of the past. But, while created as a consumer protection, these new rules could actually make it harder for some people to qualify for a mortgage. That’s because lenders will be required to make sure that borrowers have the means to repay the loan.

The borrowers most likely to encounter tougher qualification standards are those who are self-employed and those seeking larger mortgages, sometimes referred to as “jumbo” loans. But, don’t stress! The Sal Paone team includes professionals who can help you clarify mortgage requirements and navigate through the process. Why not talk to one of our pros today?

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