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18 search results for: income based repayment

1

How to Buy a House With Student Loans in Income Based Repayment

It is no secret that student loans cause debt ratio issues when qualifying for a home loan.  While mortgage lending hasn’t caught up with student loan debt payment options, there are great solutions available.  So let’s share creative ways millennials and first time buyers with even large student debt could buy a home.  Plus buy a home with great […]

2

Income Based Repayment and Purchasing a Home with FHA

Income Based Repayment (IBR) and FHA Mortgages The problem many FHA buyers run into when buying a home is a high level of student loan debt Student loan debt levels are at a record high and continue to rise quickly.  Coming out of college with a mountain of debt and of course the monthly payments, is causing a […]

3

Mortgage Denied Because of Employment History? We Have Solutions

Capacity, credit, collateral, and capital are considered the 4 C’s of mortgage lending.  Basically, these are the main areas lenders review to qualify a borrower.  But these 4 categories are broken down into many subsets.  This article is going to discuss the capacity to pay back the loan and more specifically discuss the role of […]

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The Best Loan in America – VA Loans and VA Loan Down Payment Solutions

VA home loans are best known for providing Veterans and service members with a no down payment purchase option.  Although, sometimes VA loans require a down payment.  For instance, there could be a VA loan down payment required if a buyer would have two VA loans at once.  Have two VA loans at once?  Absolutely!  It is very […]

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Why a First Time Home Buyer Should Avoid an Online Mortgage Lender Process

Are you currently living with family, staying with friends, or renting an apartment or home?  Are you like many that want to achieve the dream of homeownership for the first time?  This is a huge step and it should not be taken lightly.  Even though Millennials and others may prefer to text or message everything today, don’t do […]

6

Fannie Mae Loosens Guidelines to Help More Buyers

You know those furniture store signs “Out for your business”?  Well, Fannie Mae is out for your business!  This year there has been a consistent flow of updates coming from Fannie Mae.  Plus there are more coming!  Most of these include loosening of income, asset, and credit guidelines.  So this means more buyers should qualify […]

7

Fannie Mae Student Loans Mortgage Guidelines Relax to Help Buy a Home

A recent USA Today article stated “Americans now have more than $1.4 trillion in unpaid education debt, according to the Federal Reserve”.  Average student loan debt for 2015 graduates in North Carolina is $25,645.  Plus many graduates have so much more.  It is not uncommon for a buyer to owe $50,000 – $100,000 or more.  […]

8

Mortgage Rules Have Changed So Why Are You Still Renting

The biggest misconception among renters is that a large down payment is necessary to buy a home.  Then many will rent for an extended period thinking that a home purchase is unreachable.  A recent article by Citylab, “The down payment is too ‘daggum’ high” explained it well.  It explains how many renters cite lack of funds to cover […]

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How to Buy a Home with Student Loan Debt. VA New Policy Can Help!

Student loan debt and payments play a large role in buyers qualifying for a mortgage loan.  With escalating costs of a college education, many graduates carry the heavy burden of debt.  Luckily there are many programs providing student loan payment relief.  But when it comes to mortgage qualification, the programs are often not recognized.  VA home […]

10

Best Mortgage Articles of the Year – 2016’s Trending Topics

Well, 2016 is over and what a year it was!  The real estate market had a great year which was supported by very low rates and an improving economy.  As a mortgage lender, we try to do more than just close mortgage loans.  Providing education is a cornerstone belief of our team.  So we have compiled the top 10 list […]