What Fannie Mae’s New Credit Rules Really Mean For Metro Detroit Home Buyers
Posted by Michael Perna on
Fannie Mae recently removed its old 620 minimum credit score requirement from Desktop Underwriter, the software most lenders use to approve conventional mortgages. That change, along with big shifts in how medical debt shows up on credit reports, means many Metro Detroit buyers who were told “no” in the past may now qualify. At the same time, builders across Southeast Michigan are offering strong incentives and some local markets are softening, giving buyers more leverage than they have had in years. This guide explains what changed, how it affects real people in Metro Detroit, and the exact steps to take if you want to buy a home in the next 6 to 18 months.
Fannie Mae Credit Score Changes: The Short Version
For years, buyers across Metro…
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