Student Loan Debt Solution Found via Fannie Mae's "Student Loan Cash-Out Refinance"

Reblogger Gita Bantwal
Real Estate Agent with RE/MAX Centre Realtors

 

Student Loan Debt Solution Found via 
Fannie Mae's "Student Loan Cash-Out Refinance"
 
 
 
Mounting Student Loan debt has become a huge concern ...
 
This is true not only for individuals carrying student loan, but for GSE's (Government Sponsored Enterprises) like Fannie Mae that oversees and ensure mortgage liquidity and guidelines to Banks, Lenders, and Mortgage Providers.   

In a previous post, I noted that Fannie Mae had revised guidelines as they pertain to treatment of Student Loan Debt when applying for loan.  Those changes were favorable for Home Buyers carrying student loan debt, as they allowed Mortgage Underwriters some flexibility in examining and allocating for student loans. 

This new more relaxed view removed some financing obstacles and made it easier for Mortgage Lenders to reach mortgage approval for Borrowers.  It opened the door for more potential Borrowers with Student Loan Debt to qualify for a Mortgage and buy homes.  A very welcomed outcome.

Now, adding to that earlier positive change, another new financing option offers hope to those that hold student loans. It comes in the form of financing called the "Student Loan Cash-Out Refinance Option".  The refinance option is backed by Fannie Mae and other wholesale lenders.  

A cash-out refinance option has long been an option available for homeowners with home equity.  Those homeowners could use the refinance to pay off debts of any kind.  
 
But with this new refinance option, when paying off Student Loan debt, certain costs normally charged to a borrower are "forgiven" or "eliminated".  

In turn, these savings result in either a:

  • Lower interest rate offering  
       or ...
  • Additional "cash out" at Closing  

It truly can be a real benefit to Borrowers to finance in this manner.

As with any new program, there will be a learning curve felt by lenders, but for current homeowners with sufficient equity looking to reduce or eliminate higher interest rate Student Loans and higher Student Loan payments ... there can be profound relief found via a "Student Loan Cash-Out Refinance"

Should you want more information, have questions regarding this new Student Loan Cash-Out Refinance (or other mortgage options), or your eligibility for putting this new refinance option to work for your benefit, please contact me.  I'll be happy to answer all your questions and assist you moving forward.
 
 
* Looking to find what possibilities exist for you?  
 
Are you hoping to Buy, Refinance or purchase an Investment Property New LenoxWill County, or elsewhere in the Chicagoland area? 

Contact me!  I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:


Gene Mundt
 
Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed
 
American Portfolio Mortgage Corp.
nmls #175656
 
 
Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281
 
 

  

 Twitter Account of Gene Mundt, Mortgage Lender   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest Acct. of Gene Mundt, Mortgage Lender   

   Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender  

    

 

Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

Email Me .. to be added to my Mortgage & Real Estate Newsletter

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Pennsylvania Bucks County

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
5,307,435
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks, Gita, for sharing this excellent reblog selection.

Dec 19, 2018 03:37 AM #1
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Roy, thank you for reading

Dec 19, 2018 05:43 AM #2
Rainmaker
4,796,627
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for the re-blog, Gita.  This is valuable information for those with student loans.

Dec 19, 2018 05:44 AM #3
Rainmaker
1,220,261
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Appreciate your sharing this info with your readers, Gita Bantwal ... you're always so kind ...

Gene

Dec 20, 2018 11:05 AM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
4,432,093

Gita Bantwal

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
Call me for free market evaluation of your home
*
*
*
*
Spam prevention