Category: FHA Guidelines

Student loans in deferment or income-based repayment often had an unfair disadvantage when applying for FHA loans. Previously, the FHA used 1% of the loan amount as the student loan payment.

“More often than not, first-time homebuyers are at a disadvantage when it comes to house hunting because of their student loan debt,” says Eric Hall, Mortgage Loan Originator and Corporate Trainer at Atlantic Trust Mortgage. “Because of their income…