“FHA Guidelines on Student Loans, Reduced Monthly Charges”
Hi Joe,
I talked to you a few weeks ago about buying a home and based on our debt ratio, so the only way we could purchase what we wanted was with a cosigner.
I am following up because I see that FHA has changed its guidelines on student loans. The way they are doing student loan debt. It is my understanding that they have reduced the 1% of the obligation to .5%. Long winded I know sorry. Any chance we could do a loan without cosigner?
Student loan debt has often cause many not be able to purchase a home or refinance. It just got a little easier.
The guideline changed, reducing the mandatory 1% per months of the student loan debts and it was reduced to .5% or half of what was required. That is really good news for folks that have student loan obligations and want to purchase a home.
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