Introduction Most people think qualifying for a mortgage comes down to one thing. Income. If your income is high enough, you qualify. If it’s not, you don’t. But that’s not how mortgage approvals actually work. Freddie Mac guidelines are…
Introduction Student loans are one of the most common concerns when applying for a mortgage. Many borrowers assume their student loan payment will automatically disqualify them or significantly reduce what they can afford. But that’s not always how it…
Introduction If you’re self-employed, qualifying for a mortgage can feel unclear. You look at your tax return and see one number. But that’s not necessarily the number a lender will use. Freddie Mac does not base your approval on…
Introduction If you’re self-employed, you’ve probably heard this before: You need two years of tax returns to qualify for a mortgage. That’s one of the most common assumptions in lending. And in many cases, it’s true. But it’s not…
Introduction Rental income can play a major role in mortgage qualification, especially for borrowers purchasing multi-unit properties or converting homes into investment properties. But one of the biggest misconceptions borrowers have is assuming lenders only consider rental income that…
10 Lesser-Known Freddie Mac Guidelines That Can Influence Mortgage Qualification Introduction Most borrowers have heard of Freddie Mac, but very few understand how much its guidelines can influence whether a mortgage gets approved. Freddie Mac is one of the two…
How Deferred Student Loans Affect Mortgage Approval If your student loans are currently deferred, it is easy to assume they will not affect your ability to qualify for a mortgage. This is one of the most common misunderstandings borrowers…
How VA Loans Handle Student Loan Debt If you are using a VA loan and have student debt, the way your loans are evaluated may be different from what you expect. VA loans follow a different approach than FHA…
Can a Co-Borrower Help Offset Student Loan Debt? If your student loans are affecting your ability to qualify for a mortgage, adding a co-borrower is one option you may consider. In some cases, this can improve your approval chances…
Should You Pay Off Student Loans Before Buying a House? If you are planning to buy a home and have student loans, one of the most common questions is whether you should pay them off first. At first glance,…
