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Sun American Mortgage - Reverse Mortgage Lender

Sun American Mortgage is a lender, seller and servicer of the government insured Reverse Mortgage. Over twenty years ago, we closed the first ...

America's biggest mortgage source is making it easier for millennials to buy their first home

In the housing bubble, just about anyone who could apply for a mortgage was able to get one. 

A decade after the crash, the largest lenders are loosening their standards again to make housing more accessible to first-time buyers. 

Fannie Mae, the largest source of US mortgages, is making it a little easier for people with all kinds of existing debt — including student loans — to qualify for mortgages. The change will kick in on July 29 when the debt-to-income ratio (DTI), a measure of a borrower's capacity to make payments, rises to 50% from the current 45%. 

To understand what that looks like, let's say a household earns $5,000 a month and makes monthly debt payments totaling $2,250. Its DTI, debt payments divided by income and expressed as a percentage, is 45%. That's right at the current ceiling, and a lower DTI would be better.

But when the ceiling is raised, a second household with the same income that spends $2,500 on debt payments would have a DTI of 50% and be just as qualified. The $250 extra spent monthly on paying down debt would be less of a drag on their application.

Supreme Lending Partners with Baseball Hall of Famer Ivan 'Pudge' Rodriguez for American Century Championship ...

The American Century Championship Golf is a celebrity golf tournament that raises funds for local and national charities. This year, the tournament features a purse of $600,000, and its official national beneficiary is the Stowers Medical Institute for Medical Research, a 550-person basic biomedical research organization focused on the development of innovative approaches to treat, diagnose and prevent disease. The star-studded event is owned and broadcast by NBC Sports, and features more than 80 of the greatest names in sports and entertainment.

In January 2017, his first year of eligibility, Rodriguez was one of three players voted into the baseball Hall of Fame. In addition to two tours with the Texas Rangers, the catcher played for the Florida Marlins, Detroit Tigers, New York Yankees, Houston Astros and Washington Nationals. He has played in two World Series, one with the world champion Florida Marlins in 2003 and the other for the Detroit Tigers in 2006.

“We feel particularly connected to Pudge Rodriguez and the American Century golf tournament because their values reflect a lot of our core values here at Supreme Lending,” said David Colarchik (NMLS 300510), branch manager of Supreme Lending’s Tahoe team in Incline Village, Nevada. “We believe in working together, accomplishing good things, and lending a helping hand to those who need it the most. We’re happy to be contributing to a worthy cause and teaming up with people who enjoy coming together to a make a positive difference in the lives of others.”