Primemax Mortgage Group

Buying a home with student loan debt? New VA Policy Can Help!

March 8th, 2017 4:28 PM by

Student loan debt and repayments play a large role in buyers qualifying for mortgage loans. With escalating costs of college education, many graduates are carrying the heavy burden of debt. Luckily there are many programs providing student loan payment relief, but when it comes to mortgage qualification, the programs are not often recognized. VA home loans, available to qualifying military veterans or active service members, are the most flexible when it come to student loan debt. So Veterans can take advantage of these flexible student loan guidelines to purchase a new home.

The Veterans Benefits Administration, in the Department of Veteran Affairs, recently announced a rule clarification, in Regards to student loan debt.

Additionally, new policy provides guidance for student loans in repayment. This includes loans which will be in repayment within 12 months.

Check out how VA loans help service members, Veterans or surviving spouses with student loan payments.

Deferred student loan payments mean payments are not required for a period of time.

Guess what? VA loans recognize the zero required payment under certain circumstances.

VA guidelines state the following: Student loan payments which are deferred greater than 12 months after the mortgage closing date may be disregarded!

Posted in:Home Buying and tagged: home buying

Posted by on March 8th, 2017 4:28 PM

Primemax Mortgage Group

Buying a home with student loan debt? New VA Policy Can Help!

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