Video Transcript:
Your zero-dollar student loan payment should be a huge financial advantage. But old rules make lenders see it as a risk, potentially stopping your home loan. I am David Ghazaryan, and I manage these files daily. Lenders were trained on an old one percent rule, where every single loan must have a payment. Here is the critical difference now. A Conventional loan uses your real zero payment. An FHA loan must invent a payment, hurting your borrowing power instead. Using a Conventional loan converts this rule into huge purchasing power. This small change can let you afford a home that is one hundred fifty thousand more. (Data may vary over time) This system has updated rules, but not all lenders have updated too. An outdated lender will simply deny a loan you should have been approved for. This analysis continues on our social platforms and website with the article. You can find all the links to follow this breakdown in the description below.
Read Blog Here: https://www.iqratemortgages.com/blog/how-the-save-plan-affects-your-california-mortgage-approval
