When a client needs to pay down a short-term debt to qualify for a mortgage loan, each lender views that differently. Some allow it and some don’t, so call me first before you start looking at homes.

RELATED ARTICLE TITLE: Fannie, Freddie, FHA and USDA – Installment Debt Under 10 Months – Will any of the agencies not count debt that is paid down to 10 months or less? FHA Answer: Unfortunately, FHA does not allow for debt to be paid down to the 10-month payment level in order to exclude it […]

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