Cherry Creek Mortgage Co., Inc., NMLS #3001. Debt consolidation does not pay off the debt, please consult a financial advisor regarding the effect of consolidating short term debt into long-term debt.
This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are
subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are
subject to change without notice. Rates and terms are valid as of the date of printing/distribution.
Call me. Let’s talk about whether you
could benefit by refinancing now!
The broad burden of student loan debt.
Student loan debt impacts 44 million people in the United States and 41% report that they are delaying homeownership
because they find it difficult to qualify for a mortgage due to the impact of these loans on their debt-to-income ratios.
Help is on the way for homebuyers with student loan debt.
We are excited to announce that Fannie Mae is making it easier for home buyers with student loan debt to purchase or
refinance a home by implementing the following guideline changes:
• Changes to how debt-to-income ratios are calculated for borrowers with student loans
• Expanded guidelines that allow borrowers to pay off student loans without the typical rate increase that’s
required for cash out transactions
• Exclusion of student loan payments from debt-to-income ratio calculations when a borrower can verify those
payments are made by a family member with 12 month’s canceled checks
Now is a great time to connect with your clients who have been impacted by student loan debt to let them know
Fannie Mae is making changes to help them! Reach out to me today to learn more about how your buyers can benefit
from these new guidelines.
Help is on the way...
FOR BORROWERS WITH STUDENT LOAN DEBTRead More