New rules on student loans may make it easier for many to qualify for mortgages


Here’s some good news for home buyers and owners burdened with student-loan debts: Mortgage investor Fannie Mae has just made sweeping rule changes that should make it easier for you to purchase a first home or do what is called a cash-out refinancing to pay off your student debt.

Fannie’s new policies could be game-changers for large numbers of consumers. Roughly 43 million Americans are carrying student debt — $1.4 trillion worth of it nationwide — according to industry estimates. These loans not only are a drag on borrowers’ ability to save money but also are a key reason that so many young, would-be home buyers remain renters — or are camped out in their parents’ homes.


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