Got student loan debt? An FHA loan may be your best mortgage option.


Let’s assume the borrower has a debt-to-income ratio of 43 % and pupil mortgage debt of $150,000. Underneath the previous rule, the FHA assumed the borrower’s month-to-month mortgage debt fee is $1,500. Underneath the brand new rule, the estimated fee could be $750. When buying a $400,000 dwelling utilizing FHA financing, the estimated mortgage fee could be $2,328 for principal and curiosity (PITI). Underneath the previous rule, the annual revenue a borrower wanted to qualify for the mortgage would have been $106,827. Underneath the brand new rule, it’s solely $85,897. | Received pupil mortgage debt? An FHA mortgage could also be your greatest mortgage choice.


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