Botched Loan Advice Needed

[Anonymous]

Update:  Added the additional $1800 per month income.  The bank now says we can only be approved for a max of $130000 based on DTI through USDA.  The total income now is $5900 per month and debts (thanks to outrageous student loan figures) is around $1400 per month.  I originally wanted to be approved for $210000.  Are they figuring on a high interest rate or am I just expecting too much?  Does USDA have a set interest rate or does the banks choose the rate?  They are sending it to Cresent Mortgage for RHS preapproval and then I guess it still has to get past their investor. More to come..... 

[germaine47]

I would suggest that you wait until they go into the repayment and set the your loans up into the graduated repayment plan.  I had approximately 38000 in student loan debt and my payment was $340 a month with the student loan rehabilatation, I then asked for the graduated repayment plan in which payments are now 139.01 by doing this it brought my  DTI down a great bit.  My DTI is front end 22/ back end 28% , I didnt quite agree with the calculations but I have very little debt and  credit cards reporting below 5%.

[Anonymous]

I would but we still have a lot of school to go. lol The problem was that the bank disregarded my letters from the student loan servicers saying what the payments will be.  They say that deferred loans are included in FHA because of rule changes in April. I think what I have learned through this whole deal is that people really need to take extra training classes.