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If you have student loans, or you know someone with student loans, this is for you.
It will be more difficult for those with student loans to qualify for a mortgage after June 29th.
In short, low or deferred payments on an income-adjusted payback plan are currently not counted against you. After June 29th, that’s not the case anymore.
Lenders must use your real repayment amount, regardless if you can afford it, after June 29th, which may cause many, especially millennials, not to qualify for a mortgage.
If this applies to you, contact me to find out how much home you can afford before this goes into effect. It may raise the payment on your home if you qualify after June 29th.
I’ll put you in touch with a trusted lender who will get your paperwork done quickly.
Hurry! June 29th is the last day to register a Federal Housing Administration case number to fall under the current, more favorable student loan guidelines for mortgages.
Call me at 602-957-1583 or simply reply to my email if you have any questions.
I just want to keep you updated on this change since I know it will affect many people.
I’ll have an update for you in the coming weeks with what’s happening with regard to home prices in Phoenix this summer. If you’re thinking of selling your home, we may be able to get a jump on the market. Let me know.