Cash Out Refinances for Student Loans

Fannie Mae has revamped some guidelines regarding student loans and how they are treated in debt to income ratios for qualifying for a mortgage. This is great news… however what’s even better news for home owners who have student loans, Fannie Mae is offering improved pricing on cash out refinances for paying off student loans! [Read more…]

FHA revises guidelines for calculating student loans

mortgageporter_student_loansTonight HUD announced that they are backing off how they have been treating student loan debts for people who are trying to qualify for a mortgage.

From HUD’s announcement:

“…FHA believes that its approach provides the appropriate balance between expanding access to credit and ensuring that the borrower is able to maintain successful, long-term homeownership.

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Happy Birthday, Son!

scanToday is my son’s birthday. Although to me, it seems like just  yesterday he was toddling around in his Barney slippers, he is now entering his third year of college. I simply could not be more proud of him.

The one piece of advice that I would offer anyone with children is to start saving for your child’s education NOW if having your son or daughter attend college is important to you. I’m thankful that I’m able to help my son out with his tuition. He does have student loans…however I’m at least able to help contribute. I set up an auto-payment into a 529 account years ago and before that, bought savings bonds.  I didn’t miss what was taken from my checking account. Of course it did take a hit in recent years – but I’m still so glad I’ve been able to save some money for him.

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