Benefit by Working with a Smaller Lender

Here at Quest Loans we pride ourselves on having the professional standards and expertise of a large bank while still giving you the friendly feeling of a smaller community bank--and now there's even more perks for stopping by our office or giving us a call!

Just last Thursday, a new mortgage rule has been introduced denying consumers a "qualified" mortgage if they have debt exceeding 43% of their income. However, the Consumer Financial Protection Bureau proposed that smaller creditors be given an exemption to that new standard thereby giving the smaller guys an advantage over the larger banks, especially when they operate with low and moderate income communities.

Now, some consumer advocates may claim that this new standard could shut out first-time home buyers or those with low income. While this may be the case for those who step through the doors of larger banks, the new exemption provides small lenders like Quest Loans a formidable piece of the mortgage market.

Not sure where you stand in relation to this new mortgage rule? Have questions on what other special programs or offers you may be eligible for? Give us a call at 888-883-5252 and let Quest Loans look at your specific mortgage needs and get you the very best deal out there!

Posted in: Consumer Financial Protection Bureau,lender,loans,mortgage