HomeGain on Facebook HomeGain on Twitter HomeGain on LinkedIn HomeGain on YouTube

how can i make sure my student debt won't affect mortgage qualification??

By yuliaeichmann786423444 from PA Aug 13th 2014
Powered by:

If you're doing a conventional loan, it will always affect you. However, if you do a FHA loan, if they're deferred for 13 months past your closing date, they won't affect you.

Aug 13th 2014

Searching Today's Rates...

All debts are factored into your qualification for a mortgage. The only exception I can think of is on an FHA loan, if your payments are deferred for a year or more, the underwriter does not have to count the payments when calculating your debt to income ratio.

Aug 13th 2014

The only loans where they will not affect your qualification are FHA and VA where they must be deferred for 12 months (other lenders may have more stringent requirements) after the day you close on a mortgage. There are a few lenders that offer "doctor" loans which have a similar exception - but in general the payment will be counted as part of your debt.

Aug 13th 2014

On FHA and VA loans deferred loans over 13 months past your closing date can be excluded from the debt to income ratio. If your loans are of a shorter duration,and FHA loan, you maybe able to qualify with a co borrower ( they can be non occupying ) Inbox me for more info at pete.bass@everbank.com

Aug 13th 2014


HomeGain offers free real estate tools and services to compare real estate agents, research home prices, and view homes for sale, foreclosures, new homes, and rentals. HomeGain provides real estate information including articles on home buying, home selling, and mortgage rates. HomeGain's quarterly home values surveys are a hit with the top media sources, realtors, and home buyers and sellers. Did you know, HomeGain pioneered the original online home value estimates tool back in 1999?