Fannie Mae Raises Allowable Debt

As millennials come to market, many of them are carrying heavier than normal student loan debt.  With the large benefits of owning a home, Fannie Mae sought for a way to allow for more debt, like a student loan, and still approve a mortgage to create more buyers. You can follow more on this guideline change directly at Fannie Mae’s website here.

Allowing for more debt in order to become a homeowner is a hand-in-hand plan to help people maximise tax benefits derived from a mortgage.  The goal is to use some of the benefits to pay down student loans.  Likely wishful thinking.

Overall, Fannie Mae is making it easier to become a homeowner, in hopes that the tax benefits will allow for more money in taxpayers hands at the end of the year to pay off this debt.  Still a better alternatve to renting with no IRS Tax stratagies…until the Tax Reform may re-write that!

Want to learn more about the benifits or conerns to the higher debt limit, reach out to Anthon here for more!

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