Need a mortgage, just graduated but federal loan won't begin for 6 months. Will this be included in my DTI even though its not a current debt?

So long as you qualify, you can get a mortgage.. and yes, your student loans will be counted against you, since it is a "current debt".. it's just deferred. .. 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

yes, if payment begins less than 12 months after closing the student loan payment must be counted on a FHA or VA loan. Conventional and USDA loans will always count student loan debt, regardless of how long deferred. Doesn't mean you won't qualify but it may limit the amount you can borrow.

Whether the loan payment is included in your DTI will depend on the loan program you choose. To avoid having this debt included in your DTI you could use an FHA mortgage, so long as you can prove your payment will be deferred for a full 12 months. If you payment is starting in 6 months the payment will need to be included in your DTI

You will need a 12-month deferral.

absolutely, it will be calculated as 1% of the balance unless you have a payment from the loan servicer.

Yes... With the loans going into repayment in just 6 months, all mortgage loan programs are going to require you prove what the payment will be, then lenders will add that soon to be payment to your debt ratio for debt-to-income qualifications. In MN or WI, visit www.MNHomesAndLoans.com for more information.

Hi Gregory, I concur with the others. I am here in Albuquerque and can discuss your options and provide you with a no-cost pre-approval if you'd like. Charlie Sparks, 350-3745 (cell) or 299-1550. I work for a direct lender for Fannie Mae and Freddie Mac. NMLS# 195031