For example, the student loan repayment calculation guidelines for Income Based Repayment (IBR), Income Driven (IDR), Graduated, PAYE or REPAYE plan can vary widely depending on if you are apply forConventional(Fannie Mae or Freddie Mac),FHA,VA, orUSDAhome. ...
After six months of owning your home, Fannie Mae also provides guidelines for lenders to allow you to use your mortgage to pay student loans. The option is a student loan cash-out refinance. Similar to a regular cash-out refi, if your home has increased in value and you meet their requi...
according to Fannie Mae’sloan level price adjustmentmatrix, a lender must charge an extra 1%-2% of the loan amount in fees or more, just because the loan is deemed “cash-out”.
There seems to be an opportunity for a company like Sofi to apply such a merit based approach to portfolio style lending beyond Fannie Mae’s 10 loan limit. Evaluating an investors cash flow, performance history, capital reserves, etc as opposed to the strict Debt / Income ratios and such ...