Buying a house with student loans - FHA takes income based repayment or .5 percent.
Buying a house with student loans just got easier! Effective immediately, FHA mortgages will use either the payment listed on your credit report and verified by your student loan servicer or 1/2 of one percent to calculate your debt-to-income. This will allow many more people to qualify to buy a house even with high student loan debt. This is a game changer. This mortgagee letter just came out yesterday and these new rules have to be followed on all FHA loans starting August 16, 2021. For all of the folks who could not qualify to buy a house before because of high student loan balances, now you have a chance to become a homeowner and pass on generational wealth. I explain these exciting changes in this video and I truly hope many people can take advantage of these wonderful changes and become homeowners. https://sleek.bio/rhondaburgess RhondaBurgess.com NashvilleHomesforSaleOnline.com 615-554-0832
I'm Rhonda Burgess and I am a native Nashvillian, which is a rarity these days with so many new people moving to Nashville. With this exponential growth in Nashville, new neighborhoods are being built daily and old neighborhoods are rapidly changing too. My goal is to keep you up to date on the ever-changing real estate market here in Nashville and middle Tennessee.