The first taste of living by your own rules can feel pretty liberating, but can feel burdening if your future plans keep haunting you in your sleep.

January 1, 2018, President Donald Trump’s new 7 year tax reform law became effective.

Beginning in June, Fannie Mae, which is one of the biggest government-sponsored buyers of mortgages, will now favor borrowers making efforts to pay down their credit cards when it comes to buying home loans. This means those just paying the monthly minimums may simply not be enough. The company’s counterpart, Freddie Mac, is expected to follow suit.

The Federal Housing Administration (FHA) 203k loans are immensely popular renovation loan products available to well-qualified borrowers looking to purchase either a fixer-upper or a home that just needs one or two additions to be “perfect”.