Shopping Basket
Your Basket is Empty
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should receive an order confirmation from Paypal shortly.Exit Shopping Basket

Call Us Today!

Toll Free (800) 905-5069

Local (561) 745-3344

NMLS # 227765 

The Mortgage Mashup Blog

The Mortgage Mashup Blog

No Longer have to close out revolving debt for Fannie Mae??!!

Posted on 27 May, 2015 at 14:05

Big news from the world of Fannie Mae today. You no longer have to close Revolving debt to qualify for a loan. In the past, if you were doing lets say a cashout refinance and were consolidating some credit cards. If those credit cards being paid off were necessary to get your loan, then in the past, those cards needed to not only be paid in full at closing, but needed to be closed.

Now, such accounts do not need to be closed as a condition of excluding the payment from the debt to income ratio! This is big news for clients that were worried about losing points, rewards, etc. or just the ability to keep the card open. As it states in the Fannie Mae lending guide:

"If a revolving account balance is to be paid off at or prior to closing, a monthly payment on the current outstanding balance does not need to be included in the borrower's long-term debt, i.e., not included in the debt-to-income (DTI) ratio. Such accounts do not need to be closed as a condition of excluding the payment from the DTI ratio."

For more information, please go to the fannie mae site using the following link:

As always, your's in service,

Vincent J. Fiordilino.

[email protected]


Categories: Programs and Guidelines, Questions, Etc!

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.


Reply Trio Cone Crusher Parts
10:48 on 6 September, 2018 
Hi Dear, are you truly visiting this web page daily, if so then you will absolutely get pleasant know-how.
Trio Cone Crusher Parts
Reply iyelhorifi
14:18 on 8 March, 2020 
Cephalic loss, equilateral patience, [URL= - generic synclar 250 from canada[/URL - [URL= - lasipen on internet[/URL - [URL= - clofert commercial[/URL - [URL= - flixotide nasal spray online[/URL - [URL= - melalite forte for sale overnight[/URL - [URL= - generic ecosprin tablets[/URL - [URL= - generic brand valcivir tablets[/URL - [URL= - dutas t generic canada[/URL - chemosis, squeeze exhibiting generic synclar 250 from canada buy cheap lasipen buy clofert w not prescription flixotide nasal spray melalite forte for sale overnight ecosprin non prescription ecosprin brand valcivir dutas t online trans-sphenoidal data: synclar 250 on internet lasipen clofert on internet flixotide nasal spray melalite forte for sale overnight non prescription ecosprin generic brand valcivir tablets buy dutas t uk immunity, hemidiaphragm symphysis management.
Reply rspriwcykmar
18:32 on 17 June, 2020 
cialis price how much is cialis - canadian pharmacy cialis cialis 10mg cialis professional
Reply lasix generic name
22:05 on 12 July, 2020 
Clinical comeback syncope palpitations the time in the longitudinal of some patients. tadalafil 20mg cialis pill
Reply hrhkMoime
23:49 on 13 July, 2020 
professional resume writing service - paper help education websites resume helper writing services
Reply ScottCip
18:37 on 16 July, 2020 
Howdy! how to buy colchicine in canada buy colchicine for gout buy Colchicine cheap
Reply PedroWouri
14:21 on 17 July, 2020 
Howdy! buy priligy no prescription order dapoxetine
Reply GeorgeFah
17:03 on 17 July, 2020 
Howdy! overseas online pharmacy canadian pharmacy online
Reply Robertdiuse
23:59 on 17 July, 2020 
Hello! pharmacies that deliver near me best 10 online canadian pharmacies canadian pharmacies online
Reply ScottCip
7:02 on 18 July, 2020 
Hi there! where to purchase colchicine buy colchicine uk buy generic Colchicine
Reply dvliUneve
16:19 on 19 July, 2020 
term papers for sale - college essay service edit my paper thesis writer write research paper
Reply bilkimite
17:12 on 19 July, 2020 
diploma online - project online paper writer essay writers write my paper for me
Reply rgmiamogy
7:31 on 22 July, 2020 
generic viagra walmart - how to take viagra viagra pills female viagra side effects of viagra
Reply ehjkMoime
12:34 on 22 July, 2020 
viagra - viagra viagra generic viagra dosage how to take viagra
Reply dbhrdeelt
14:49 on 22 July, 2020 
write my paper - write my thesis write essays for money paper help thesis writer
Reply MiguelCal
15:30 on 22 July, 2020 
With thanks. Fantastic stuff. cbd superbugs
Reply MiguelCal
5:46 on 23 July, 2020 
Truly a good deal of terrific tips. best full spectrum cbd oil
Reply MiguelCal
13:57 on 23 July, 2020 
Seriously a lot of beneficial info. hemp oil pills
Reply bfpqItade
21:25 on 23 July, 2020 
viagra generic - generic viagra buy viagra viagra 100mg buy viagra
Reply MiguelCal
7:52 on 24 July, 2020 
You have made your stand extremely well!. strongest cbd oil for sale