Borrowers With Student Loans Might Have An Easier Time Qualifying For An FHA Loan

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In the past, a lot of potential borrowers were declined for FHA loans due to the presence of student loans. Now, the Biden Administration along with the FHA has eased a lot of their regulations surrounding student loans, making it easier for borrowers with student loans to qualify for a home loan. The FHA required that FHA mortgage companies calculated the monthly student loan payment as one percent of their outstanding loan balance if the loans were not fully amortized; however, this is now changing. The One Percent Rule Is Not Always Accurate Even though the one percent payment rule…
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