I am a college student now and I need to know if I can be approved for a loan. I am also a mother of two small children and a wife

Erin, congratulations for managing a family, as well as being a college student. Your approval will depend on your credit, income and debts, without relationship to your student status.

Good Evening. Some issues that you may have to contend with is the fact that all student loan debt is figured into any debt to income ratio for loan programs that are available today. If there is no payment noted for your student loan due to deferment, the lender may require that the monthly payment be calculated by multiplying the outstanding balance by 2%. I'd suggest you meet with a mortgage professional to go over your entire situation to see what you may qualify for. Good Luck!

My suggestion would be to contact a local loan officer and complete a full loan application. This way the loan officer can truly pre-qualify you and review all available options with you. If you need a good referral check the top right corner of this website under Community and pick Find a Lender. I'm sure you will find a qualified loan officer to help. Best wishes, Sean