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New Home Loan Requirements - Loan Love Discusses New Home Mortgage Guidelines

SAN DIEGO, April 18, 2014 /PRNewswire-iReach/ -- is a borrower advice website that offers in-depth information on home loans that experienced home buyers can benefit from in an easy-to-understand and entertaining way that even first-time borrowers will be able to grasp. The team at is devoted to helping empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending news, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The dawn of 2014 has been met my many changes in the mortgage world, specifically the way home buyers will now be applying for a home loan. These new home loan requirements in effect for 2014 has raised many questions for loan borrowers which Loan Love's new article hopes to answer.

This new article titled "Strict Home Loan Requirements In Effect For 2014 (Just Updated)" gives readers a bit of insight on these recent change of events: "Looking to buy a new home this year? If so, you better brace yourself for stricter loan requirements than what's been seen in recent years. You can blame the bursting of the housing bubble for new rules designed to keep borrowers out of hot water. Regardless of the intent, the process has become more complicated and some potential homeowners may find themselves giving up on a home purchase for the foreseeable future.

"What changes have been made to home loan requirements loan borrowers may ask? The new rules to home loan requirements can be primarily summed up in the following ways: a borrower's ability to repay, qualified mortgages, rules on existing loans and other miscellaneous changes. Although these new home loan guidelines may make getting a loan more difficult, these new rules are to prevent future mortgage loan disasters – such as the housing bubble burst mentioned.

The article also mentions the individual changes for each of the new requirements and its effects on current home owners. Loan Love's article states:

"The rules addressing the prospective borrower's ability to repay are primarily tied to the debt-to-income ratio. Lenders will be looking for a ratio below 43 percent. Unlike in years past, there will be few exceptions to the rule because doing so will greatly risk the lender's ability to resell the loan.  Be sure to get your financial house in order before stepping foot in the lender's office.

Changes that fall under the "qualified mortgages" category relate to safeguards being put in place to ward off predatory lending practices and other actions that take advantage of borrowers by extending loans that are beyond a borrower's ability to repay.

If you already own your home, keep in mind that the new rules also spell out the steps a lender has to make to attempt to help you return a past-due account to a personal one."

Other minor changes are likely to be well received by home owners such as mandatory billing statement mortgage lenders must send to home owners on a monthly basis and other safeguards implemented to protect a home owner's integrity to pay off a loan. These are only a few of the mentioned new home loan requirements for 2014. To get a complete list of these new home loan requirements and details describing each, visit for the complete article.

Media Contact: Kevin Blue,, 949-292-8401, [email protected]

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