FHA Lenders in Lincoln, NE who ignore deferred student loans

Well there's your first mistake.. Going to Wells Fargo.. because your with this "big box lender".. if your scenario does not fit within their guidelines, your denied.. period.. However, there are lenders out there that will allow for your scenario.. the best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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

We have lenders that disregard student loans as long as they are deferred for over 2 years from the closing date. In addition, we several lenders that have higher DTI ratios than those allowed by some of the "tighter" lenders in the market. If you want to have a second look taken at your loan, please let me know.Thanks,Dennis W ClarkNMLS#13970Freedom Lending, LLC402-333-5432dennis@mortgageloansofamerica.com

I think that would not be an issue. I live in Omaha and have done lots of loans in Lincoln in the last 12 months. Please give me a call. Dane Hodges with Great Plains Mortgage 402-707-1710

I can eliminate the student loans from the DTI ratio and go up to a 55% DTI. Steffnie Parsons, Steffnie@peoplesbankusa.com NMLS 737490

We ignore student loan payments as long as they are in deferrment for 12 months from the time of loan closing. Nancy Thompson 402 813 4072

The issue is not just your student loans, most lenders will ignore them for a FHA loan if they are deferred for at least 12 months after closing and a 55% DTI is not uncommon for a strong buyer. However, it may not be possible to count your stipend from the PHD program unless it is guaranteed and going to continue for at least 3 years after closing - which it possibly may not be. I'd be happy to look at your options. pdumouchel@primelending.com or 843-619-6025 There are sometimes creative ways to help you purchase the home you want.

I am the FHA Loan specialist for our Bank and do loans with similar scenarios all the time. Call or email me at your convenience. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

The lender you selected has their own overlays to FHA's standard guidelines. There are loads of other lenders that follow the guideline of excluding deferred student loans from the DTI ratios as long as the payments are deferred for 12 months after closing.

HI THERE:I AM A LOAN OFFICER FOR A DIRECT BANK NOT A BROKER...I HAVE ASKED MY UNDERWRITER ON YOUR SITUATION AND HAVE A RESPONSE FROM THEM...PLEASE CONTACT ME TO DISCUSS AT MCONVIN@AMERICANFSB.COM OR 703 505 5300. WE ARE LICENSED IN ALL 50 STATES AS A BANK..SINCE A BANK WE HAVE FLEXIBLE U/WRITING GUIDELINES. MIKE

Both Fannie and Freddie require that a monthly payment be used on deferred student loans. FHA and VA loans are more flexible. The FHA and VA guidelines state that if a deferred student loan payment comes due within 12 months of the mortgage origination, the monthly payment must be included in the debt ratio analysis. However, if it comes due after 12 months from the date of the mortgage then it is not used in the calculation. Sometimes the credit report shows a student loan with the phrase "deferred payment" and no payment is listed. To prove the payment amount due as well as when the payment begins, the borrower will need a letter from his or her student loan creditor stating what the payment will be, when it begins and how long it will continue. Most investors have their own rules on top of Fannie, Freddie, FHA and VA guidelines called overlays. Check with your mortgage loan officer to confirm what the loan overlays are and have the documentation ready for the speediest loan processing.emarez@thefederalsavingsbank.com