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)
By Matt Stark Lead Broker | Search Homes NW Group SearchHomesNW.com
Bidding wars are very common in the current real estate market, most notably when it comes to higher-end properties that are in desirable locations. More recently, in the Seattle area aggressive bidding wars are more prevalent and can be very nerve-racking, even discouraging if you are on the losing end. Having watched hundreds of bidding wars over the past several years, there are a few results that are seen more often. The bidder coming in with the crazy offering price makes the decision simple – money almost always wins. It is not uncommon … (27 comments)
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