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Standard Mortgage Blog

Mortgages

Mortgage Application Experts: Understanding Student Loan Income-Driven Repayment Plans and Deferred Student Loans

Deferred student loans and income-driven repayment plans are common scenarios that can impact your ability to purchase a home. A deferred student loan account allows the borrower to postpone making monthly payments for some time. Income-driven repayment plans allow borrowers to have a monthly payment that is based on their family size and income. Both factors can affect your mortgage application..

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Mortgages

Home Buying and New Debt: How to Navigate Prequalification Successfully

Embarking on the exciting journey of house hunting requires careful consideration of various financial factors, including your creditworthiness. One aspect that can significantly affect your prequalification for a mortgage is the accumulation of new debt. Below are a few ways new debt influences the prequalification process and why potential homebuyers should exercise caution when taking on..

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Mortgages

Home Mortgage Lender: What are Gift Funds and How Can They Be Used?

The process of buying a house may require a large amount of money for your down payment, depending on the mortgage product you select. If a generous relative has given you down payment money for a wedding or graduation gift it is important to know how to most appropriately use this gifted money to purchase a home. Understanding what gift funds can be used for, who can contribute them, and the..

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