Dear Fellow Real Estate Professionals,

As professionals in the real estate business, we understand the immense responsibility of guiding our clients through the complexities of homeownership. Today, I want to bring to your attention a critical matter that could significantly impact your clients’ ability to achieve their homeownership dreams—the resumption of student loan payments after the CARES Act forbearance.

Our clients may face challenges in their purchasing power and preferred neighborhoods due to the increased expenses brought on by student loan payments. As your trusted mortgage loan officer, I’m here to provide the expertise and support you need to help your clients navigate through this crucial phase successfully.

I want to ensure that you have all the information you need to guide your clients effectively. The introduction of new income-driven payment plans, such as the SAVE Plan, can increase your clients’ purchasing power, opening doors to a broader range of housing options. My job as a loan officer is to act as a financial advisor for my clients. As such, I’ve been studying up on these programs. There are a multitude of different options for adapting to the soon due payments, and each client will take a different path. 

You most likely already have someone in mind who needs help with their student loan payments. With almost 50 million student debt holders in the US, just over 1 in 7 people have a new bill coming in October. Recent polls suggest only a quarter of people feel prepared to take on the new bill, which means that 75% of people are rethinking their plans right about now. 

As your dedicated mortgage loan officer, I’m here to support you in supporting your clients. Together, we can empower them to make informed financial decisions and ensure that the resumption of student loan payments won’t hinder their homeownership dreams.

If you have clients facing concerns about the impact of student loan payments, I encourage you to reach out to me directly. Let’s collaborate to find the best mortgage solutions and make a real difference in their homebuying journey.

Here’s one bit of free advice even before we chat: student debt holders that want to refinance their loans with a student debt consolidation company could be looking at the worst decision of their lives. When they refinance with these companies, their loan is moved from a government loan to a private loan, and they lose almost all of the benefits and protections of a government loan. If your client is considering refinancing with a private debt-consolidation student loan company, I strongly recommend they get a second opinion. 

Contact me today to schedule a call and explore how we can work together to provide your clients with the knowledge and resources they need for a successful path to homeownership.