If you have student loans, or you know someone with student loans, this is for you.
It will be more difficult for those with student loans to qualify for a mortgage after June 29th.
In short, low or deferred payments on an income-adjusted payback plan are currently not counted against you. After June 29th, that’s not the case anymore.
Lenders must use your real repayment amount, regardless if you can afford it, after June 29th, which may knock many people – especially Millennials – out of qualifying for a mortgage.
If this applies to you, contact me to find out how much home you can afford here in Pierce County before this goes to effect. It may raise the payment on your home if you qualify after June 29th.
I’ll put you in touch with a trusted lender who will get your paperwork done quickly.
Hurry. June 29th is the last day to register a FHA case number to fall under the current, more favorable student loan guidelines for mortgages.
Call me at 253-307-1988 or just reply to this email if you have any questions.
You can also search all homes for sale in Pierce County on my website, or if you’re thinking of selling your home, you can enter your property address here to find out what it’s worth based on recent home sale prices.
I just want to keep you updated on this change since I know it will affect many.
I’ll have an update for you in the coming weeks with what’s happening with regard to home prices in Pierce County this summer.
If you’re thinking of selling your home, we may be able to get a jump on the market. Let me know.
Your Realtor for life,