millennials: What you should know about Credit and Mortgages
- 07/14/16 05:31 AM
In a world of easy access to the internet, I’m amazed at how difficult it still is to find information about obtaining a mortgage loan. I guess there isn’t a one stop site to address this stuff and Loan Officers are so regulated that we’re not allowed to post it on our websites. Luckily we have sites like Active Rain which allows us to post this information. I’ve probably blogged this before, but I feel compelled to write it again. After the last few months of doing loans and not being to close most of them, I find myself having to … (3 comments)
millennials: Does New Law on Student Loans hurt Millennials?
- 07/12/16 03:18 AM
On September 14th, 2015 the Federal Housing Authority (FHA) changed its rules on the calculation of student loan debt as it refers to the Debt-To-Income (DTI) calculation when qualifying a buyer for a mortgage (see table below). It used to be that if a student loan was in deferment for more than 1 year, the student loan payment would not be counted against the income of the buyer. This would allow the buyer to borrower more money since for every $50 spent on a student loan payment equals about $10,000 of purchase power. Is this a good thing? The argument: When a student … (3 comments)
In a world of easy access to the internet, I’m amazed at how difficult it still is to find information about obtaining a mortgage loan. I guess there isn’t a one stop site to address this stuff and Loan Officers are so regulated that we’re not allowed to post it on our websites. Luckily we have sites like Active Rain which allows us to post this information. 
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