Did you know that Fannie has made it easier for borrowers who have student loans to qualify to buy a home? It’s now been simplified to counting either the monthly payment that appears on the credit report, or 1% of the loan balance. If you or your clients were denied because of student loan payments, call me or post below—because you may be able qualify now!
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Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. The updates announced in this Selling Guide Announcement that apply to origination are: [tweet-start]New Fannie calculation for student loan payments. Payment on credit report or 1% of loan balance, allowing more to qualify for a mortgage.[tweet-end] Student Loan Solutions, including New […]