I'm interested in applying for a FHA loan to buy a home. I understand that if my student loans are deferred for a period of 12 months or more that they are not counted towards my DTI ratio for the loan. My question then is would a lender/underwriter care what type of in-school deferment the loans are in? Do they ask questions about what type of degree program, how long you've been in the program, etc. or is it simply that if the student loans show deferred for 12 months or more then they aren't taken into consideration for the FHA loan?

Hi again Dana! The only questions will be regarding the loan payments. If you provide documentation that the payments will be deferred more than 12 months past closing, most likely that will be the end of that topic. I'm available anytime for questions and I'm local. My direct line is 480-368-7715. Thanks and have a great day! John Moran.

Probably not unless there is something about your entire application that puts a question in the underwriters mind. Your question is vague - it would be best to talk directly to a lender and explain what your concerns may be. The key here is that an underwriter is charged with the responsibility of making sure the borrower has a high chance of being successful in the mortgage loan under consideration.

Dana,If you can provide supporting documentation that the loans are indeed deferred for a period of at least 12 months after your first loan payment is due it should not matter what type of degree propram you were in. In your current position, are you involved in something that relates to your schooling or is it completely different? Your best bet is to talk with a Lender and get pre-qualified and get all of your questioned answered. I'd be happy to assist, feel free to call me anytime at 602-508-3777.Kirk AndersonNMLS 459105BNC National Bankkanderson@bncnationalbank.com

With 12 months deferral, your income and credit will be the factors, even if you are in school.

It's all has to do with the documentation that is required you provide.. if it states, deferred for more than 12 months, your ok.. Some lenders, regardless if the deferment is greater than 12 months will sill count the minimum payments against your ratios.. Understand that FHA does not lend money, they only insure against default, so the lenders can and oftentimes will add their additional guidelines, and it's these overlays that might consider even deferred debt into your ratios.. We are a direct lender here in AZ and we have lenders that follow FHA guidelines regarding deferred debt past 12 months.. give me a call.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com