By Matt Stark Lead Broker | Search Homes NW Group SearchHomesNW.com
After June 30th 2016, it will be more difficult for those with income adjusted student loan payments to qualify for a FHA Mortgages.
Currently, those who have income-adjusted payment plans on student loans are being considered for FHA loan eligibility using the low or deferred payments when calculating debt to income ratios. After June 30th, mortgage companies will be required to use the full monthly payment of student loans when determining debt to income ratios. Lenders will now have to use the minimum payment amount, regardless of whether or not you are paying … (0 comments)
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