Beginning next year, lenders will have to deal with some new rules regarding mortgage loans. New borrowing limits and document requirements may have some borrowers in a panic. Do not panic – be proactive and take steps now if you plan to apply for a mortgage next year. Look for a smaller, community bank that may not be required to adhere to new mortgage rules. Do not change jobs right before applying for a mortgage – job stability is essential to qualify under the new “Ability to Pay” rule.

For more read, “3 Keys to Mastering New Home Loan Hurdles.”