By Marilyn Lewis
A handful of new rules, rising government fees and an improving economy: These developments and others are about to have big effects on the cost and availability of home mortgages -- maybe even on the types of loans we choose to finance our homes.
It's too soon to know precisely how the changes will affect consumers, but mortgage experts point to the following 14 outcomes. We'll probably welcome some — safer mortgages, for example. We'll complain about others, especially higher interest rates and more paperwork. If you're wealthy, getting a mortgage will be a cinch, and you'll have lots of options. It stands to become more difficult, though, if you are self-employed, a minority or low-income.
The government continues tinkering with new rules meant to protect consumers from fraud and exploitation, so it's a time of uncertainty. Interest rates appear headed up. Politicians and mortgage experts are discussing how to shrink government's role in the mortgage market.
Click on the above image to read 14 changes coming to home mortgages.