If you have student loand that are currently surrounded by defferment will there estimated monthly salary be taken into account when getting an FHA home loan? I work full time but am still attending arts school, if they factor the student loan payment given on my credit report it will receive my income to debt ration 45% which I heard can be a problem. The transfer of funds will not be what is listed on the credit report 1) they own given me lower payment option when I inquired 2) I can consolidate and cut my payments considerably. Just curious the effect this may have
Answers: As long as the student loans will be deferred for at tiniest 12 months after closing, it should not be considered in your debt ratio.
Also, if the payment is different than what the report say, and it can be verified by the underwriter, that should satisfy the reward issue.
It shouldn't be taken into account if you are surrounded by deferrment since you don't actually involve to pay very soon. I had like situation when I bought my first home, although it may be different beside FHA.
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Answers: As long as the student loans will be deferred for at tiniest 12 months after closing, it should not be considered in your debt ratio.
Also, if the payment is different than what the report say, and it can be verified by the underwriter, that should satisfy the reward issue.
How do someone drop off or get rid of debt?
It shouldn't be taken into account if you are surrounded by deferrment since you don't actually involve to pay very soon. I had like situation when I bought my first home, although it may be different beside FHA.
Resolved Questions: