Does deferred student loan debt count toward debt-to-income ratio when applying for an FHA loan?

Hi Steve,For FHA the student loan payments usually do not need to be included in your payment as long as the loans are deferred for 12 months After your close and Funding of your new mortgage. If this is for a purchase you may want to check out some other loan options as FHA's monthly PMI payment is now the highest in the industry for government loans. If you would like to explore options please feel free to call me at 603-543-3700 ext 1.All my best,Don LaPlumeCheck out our Free Home Buyer University at www.homebuyeruonline.com

Hi Steve as long as they are deferred for more than 12 months then no but if they are due to start within 12 months then yes.

Hi Steve, if the student loans are deferred for more than 12 months then no but if they are to start within the 12 months then yes they would be counted. Thank you call me for more info Robert Oliveira Residential Mortgage Services

hi there: there are some questions that I would like to ask if you could contact me. many factors involved depending on entire picture. How long is the student loan deferred? I am assuming u only have one student loan or ? are u currently working with another lender that denied your loan? We have flexible u/writing but need to review the entire scenario with you. Mike (703 505 5300)..nationwide lending...NMLS 754875

Normally the deferral must be at least 12 months from the day you CLOSE on the loan for student loans not to be counted, and some lenders have begun counting the debt for applicants with lower credit scores. If you have strong credit you can possibly be approved with a DTI over 50% of your gross qualifying income - but these can be a challenge in some situations. If you need a good loan officer I can work in MA (lived there for a long time and still have relatives and friends there), contact me at pdumouchel@primelending.com or 843.619.6025 even if just to get some questions answered.

Steve, this has been properly answered already. I'm just coming in with a shameless plug. I'm knowledgeable, experienced, fun to work with and I come highly recommended. And I'm local too, so we can get together in person if you like. Give me a shout and let me help you with your pre-approval and we'll find the program, rate and payment which are right for you. 781-258-1293. smurphy@annie-mac.com. Thanks, Scott