DO YOU HAVE STUDENT LOANS?
If you have student loans, or you know someone with student loans, this is for you.
It will be more difficult for those with student loans to qualify for a mortgage after June 29th.
In short, low or deferred payments on an income-adjusted payback plan are currently not counted against you. After June 29th, that’s not the case anymore.
Lenders must use your real repayment amount, regardless if you can afford it, after June 29th, which may knock many people - especially Millennials - out of qualifying for a mortgage.
If this applies to you, contact us to find out how much home you can afford before this goes into effect. It may raise the payment on your home if you qualify after June 29th. We’ll put you in touch with a lender we trust who will get your paperwork done quickly.
Hurry. June 29th is the last day to register an FHA case number to fall under the current, more favorable student loan guidelines for mortgages.
Give us a call or just reply to this email if you have any questions.
We just want to keep you updated on this change since we know it will affect many people.
