Freddie Mac Updates Automobile Lease Guidelines
Freddie Mac has issued an immediate update to its guidelines regarding automobile leasing for debt-to-income calculations. Paid off or prepaid automobile leases may now be excluded from a borrower's debt-to-income ratio. This change aims to provide more flexibility for applicants with existing vehicle financing.
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Sources · 7 independent
WGN Radio 720
“Freddie Mac has announced an update clarification for guidelines on automobile leasing, which is huge, effective immediately. Automobile leases paid off, prepaid, may be excluded from your debt to income ratio.”
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