12 months deferment to close, what does it mean?

[Edje87]

I have my letter from Sallie Mae indicating my IBR 0.00 payment for the next 12 months. VA Loan rules that I need to have a 12 months of deferment. I think I did secured the twelve months. However, my LO has told me that I needed one year deferment after closing. If my closing is March 31 and the end date of my 12 month period on Feb 28 2015 my defermment didn't reach my closing date but I have twelve months, anyone have been in this situation before? Thanks

[ShanetheMortgageMan]

The payment would need to be included if it's not deferred for at least 12 months from closing, so you'd need to contact Sallie Mae to get what the estimated monthly payment would be when it enters repayment.