Tagged : income based repayment

Found 2 blog entries tagged as "income based repayment".

How to Buy a House With Student Loans in Income Based Repayment

It is no secret that student loans cause debt ratio issues when qualifying for a home loan.  While mortgage lending hasn’t caught up with student loan debt payment options, there are great solutions available.  So let’s share creative ways millennials and first time buyers with even large student debt could buy a home.  Plus buy a home with great terms!

Per a recent Federal Reserve report **, student loan debt is rising at an alarming rate of $2,701 per second!  As of January 2017, student loan debt is approximately $1.4 trillion!  Obviously this is a problem.  We don’t have a solution for this stat, but we do have a great option for many that desire to be a homeowner.


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Income Based Repayment and Purchasing a Home with FHA

Income Based Repayment (IBR) and FHAIncome Based Repayment Student Loans and FHA home loansMortgages

The problem many FHA buyers run into when buying a home is a high level of student loan debt

Student loan debt levels are at a record high and continue to rise quickly.  Coming out of college with a mountain of debt and of course the monthly payments, is causing a couple major roadblocks for millennials to buy their first home.

  1. Student loan payments make it difficult to save a down payment
  2. High debt to income ratios make it difficult to qualify for a mortgage

Income Based Repayment (IBR) is the most helpful way for borrowers with large federal student loan balances to keep their payments low.  The income based repayment plans

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