Tag Archives: STUDENT LOANS

How do Student Loans Affect Your Chances of getting approved for a Kentucky Mortgage Loan?


 conventional loan guidelines student loans

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What are the current student loan guidelines for a Kentucky FHA, VA, USDA and Fannie Mae Conventional Mortgage loan.


  Kentucky FHA Loan Guidelines for Student Loans: Must be included in the borrower’s liabilities regardless of the payment type or status. The payment amount must be either: ▪ The greater of: · 1% of the outstanding balance on the loan or · Monthly payment reported on the borrower’s credit report, or ▪ The servicer’s […]
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Fannie Mae Mortgage Student Loan Solutions Frequently Asked Questions


  Fannie Mae Student Loan Solutions Frequently Asked Questions Listed below are common questions about Fannie Mae’s Student Loan Solutions. Q1. How does Fannie Mae anticipate Student Loan Solutions will benefit borrowers? Forty-four million Americans today have student loan debt; seven in 10 graduates of public and nonprofit colleges in 2015 had student loan debt; […]
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Guidelines Changes on Student Loans for Conventional Fannie Mae, USDA, FHA, and VA Mortgage loans in Kentucky for 2019


For Kentucky Home Buyers using Fannie Mae or Conventional Loans that have student loans reporting a payment on the credit report, we can now use the payment reporting on the credit report even if it is income-based repayment plan. FHA and USDA still will use 1% if the student loans are IBR, but Fannie Mae […]
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How Does Student Loans Affect A Mortgage Loan Approval in Kentucky ?


As more Kentuckians go back to school to further their education, this usually involved for some people student loans to finance their post-secondary high school education. Below I did a summary for the different types of loans for Kentucky Home Buyers and owners for:, FHA, VA, USDA, Fannie Mae and how each loan program effects the borrower and their status […]
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KENTUCKY FHA STUDENT LOAN POLICY UPDATES


April 18, 2016   KENTUCKY MORTGAGE FHA STUDENT LOAN POLICY UPDATES On April 12, 2016, HUD announced a policy change to provide guidance on calculating student loan payments for a FHA Mortgage loan approval.  Per ML 2016-08, this policy is effective for all loans with case numbers assigned on or after June 30, 2016, however, […]
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