fha: How Do Deferred Student Loans Affect Your Mortgage Application?
- 11/11/11 06:05 AM
Student loans have been in the news quite a bit recently. As tuition costs rise, college graduates face larger student loan balances than ever before. As a result, student loans often make up a sizable chunk of a college graduate's total debt picture as they enter the workforce and begin to look for housing. Mortgage lenders calculate a Debt to Income (DTI) ratio on every new mortgage application. Here we will look at how the status of student loan payments can affect this DTI on a mortgage application. First and foremost, because the payments of student loans are reported to the credit … (4 comments)
Student loans have been in the news quite a bit recently. As tuition costs rise, college graduates face larger student loan balances than ever before. As a result, student loans often make up a sizable chunk of a college graduate's total debt picture as they enter the workforce and begin to look for housing. Mortgage lenders calculate a Debt to Income (DTI) ratio on every new mortgage application. Here we will look at how the status of student loan payments can affect this DTI on a mortgage application.
;)
;)
;)
