WOW WOW WOW! I have a great edition to share for my Financing Series if you are a buyer with student loans. I have been in real estate for over a decade and this new update by the Department of Housing and Urban Development will assist with buyers pre-approvals. Having student loan debt can be a hurdle especially if you also have car loans, credit cards and other revolving credit that reports on your credit report.
According to HUD Mortgagee Letter 2021-13 published by Department of Housing and Urban Development - Regardless of the payment status, the mortgagee (the lender) must use the payment reported on the credit report or the actaul documented payment when the payment is above zero dollars - OR - 0.5 percent of the outstanding loan balance, when the monthly payment on the borrower's credit report is zero.