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The Truth about how Student Loans can affect you getting a Mortgage
When getting a mortgage many items are taken into account. These items includes your income, credit scores, assets, expenses, etc. One major expense can be if you have student loans. How mortgages address student loans is different than how we think of them. Such as, if your payments are deferred we take that as we do not have student loan payments. But for a mortgage they consider what the future student loan payment will be. And they address what that payment would be from a worse case stand point. Here is how your student loans are addressed when getting one of the different mortgage types:
 
     FHA Loan- When getting a FHA loan you need to know:
In the past if your student loan payment was deferred for over 12 months you could ignore the payment. THIS IS NO LONGER TRUE. Even if your payment is deferred a payment must be determined
When calculating a payment you must go with the highest payment of these 3 options: 1% of the account balance as the payment or the payment shown on the credit report, whichever is more. Or use the fully amortized payment during the loan. This means you will need to call your ... more

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