When Congress resolved the latest debt ceiling with the passing of The Financial Responsibility Act of 2023, both parties agreed to stop the forbearance on student loans payments. Federally backed student loan payments have been paused for the past three years due to the pandemic. Payments on student loans are set to resume following this September and many are not going to be prepared for this. [Read more…]
Credit Card Trouble? Don’t Wait to Refi.
June 6, 2023 by Leave a Comment
I have been writing about how high credit card interest rates have climbed with the Fed raising the funds rate. If you’re not paying off your entire credit card bill each month, you are probably owing a bit more due to the high credit card rate. Credit card debt can be an uphill battle. [Read more…]
Cash Out Refinances for Student Loans
April 26, 2017 by Leave a Comment
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…]
Student Loans and Qualifying for a Mortgage in Washington State (2026 Guide)
July 31, 2015 by 2 Comments
Student loan debt is one of the most common obstacles home buyers face when trying to qualify for a mortgage — but it doesn’t have to prevent you from buying (or refinancing) a home. Understanding how lenders calculate student loan payments, and how the rules differ by loan program, can help you plan strategically and avoid surprises during the approval process.
This guide covers current guidelines for conventional, FHA, VA, and USDA loans, along with practical strategies for borrowers with student loan debt. [Read more…]
Happy Birthday, Son!
September 4, 2013 by Leave a Comment
Today 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.
