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Real Estate Corner: Mortgage rules ensure homeowners have ability to repay
• No balloon loans. No interest-only loans. No negative amortization.
• Points and fees must be 3 percent or less of total loan amount for loans more than $100,000.
• Adjustable rate mortgages must be qualified using two test methods.
• High-priced mortgage loans have stricter qualifications.
• Consideration and verification of consumer's current or reasonably expected income or assets and current debt obligations, alimony and child support.
However, all consumers will have to provide full, complete and accurate documentation to verify both income and debts. As some underwriting guidelines have changed, it would be most beneficial to contact your local mortgage lender to either reconfirm your pre-qualification or to start the process.
Home & Garden
The Russell Foundation and the Lyndeborough Conservation Commission are working to preserve 95 acres of farmland at the former Woodmont Orchard, a scenic gateway to the community, which will also...READER COMMENTS: 0
A zoning variance request for a proposed subdivision in town was denied by the zoning board, thanks to a strong showing of residents living near the property.READER COMMENTS: 0
You can't get out and dig in the dirt yet, but there are things gardeners can be doing while they wait.READER COMMENTS: 0
New Hampshire ranks as the 16th best state to retire in, according to a new survey, dragged down by receiving the nation's second-worst grade for weather.READER COMMENTS: 2
The rebirth of the Balsams Grand Resort Hotel could also see the return of commercial passenger aviation to the North Country, the resort's developer says.READER COMMENTS: 0
The Cornucopia Project continues its new Food for Thought documentary series Tuesday night with its second documentary film, My Father’s Garden.READER COMMENTS: 0
This brutal winter got you down? Looking to escape? Well, many blizzard-battered New Englanders already have booked rental lodging hot spots around New Hampshire this summer, especially if their...READER COMMENTS: 2
As wrecking machinery tears apart the aging walls of the abandoned Wayfarer Inn, so too is a piece of New Hampshire history being laid to rest.