Do Your Clients Have Lots of Student Loan Debt?

About 10 days ago President Biden announced that the student loan forbearance program now goes through January which means no monthly payments and no interest accruing on those debts. This also means a borrower’s credit report shows their payment as $0 or blank.

Freddie Mac and FHA both let us use an estimated student loan payment of just 0.50% a month on their student loans which is probably lower than what their payments will be in February. So, if your clients have a ton of student loan debt they should buy a home before January when we can use a smaller monthly payment on their student loans and be able to help them buy more home.