I’ll get into the specifics in the next section, but the point is that if you’re concerned about "paying your student loans forever," there’s a definitive time limit to how long you’ll pay under.
If you don’t have any debt, the FHA will allow you to put up to 40% of your income toward a mortgage payment. Likewise, your DTI could go as high as 50% if you have compensating factors like residual income or large cash reserves.
Eligibility page for the VA loan guaranty service.. The spouse of a Veteran can also apply for home loan eligibility under one of the following conditions:.
Advertiser Disclosure. Mortgage FHA Loans: How Much Can You Qualify for and What Can You Afford? Friday, January 18, 2019. Editorial Note: The content of this article is based on the author’s opinions and recommendations alone.
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FHA loans generally require lower down payments (as low as 3.5% of the home value), while other loan types can require up to 20% of the home value as a minimum down payment.