Harris Lawrence Schechtman

If you're doing it right, the first step in your home-buying process will be talking with your lender. Your mortgage lender is the one who will be able to tell you whether or not you'll be able to buy and how much you'll be able to spend. In short, you won't get very far without first going over your numbers and figuring out what you'd be approved to borrow should you find a house you want to purchase. Some of that calculation will be determined by your financial situation, debts, income, etc. Another part will be based on credit standards. And, according to the most recent Mortgage Lender Sentiment Survey from Fannie Mae, they're easing – which means it's getting easier to get a mortgage. In fact, the survey found “lenders on net continued to report easing lending standards at a modest pace across all loan types.” That's good news for prospective home buyers. And, according to Doug Duncan, Fannie Mae's chief economist, it's helping push expectations for this year's selling season. “Lenders' improved demand outlook going into this spring selling season bodes well for our forecast of relatively flat mortgage volume following the double-digit drop in 2018,” Duncan said.