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Fha loan and student loan

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deannadb6
Member

Fha loan and student loan

My husband has late payments on his students loans from 3 years ago.  12 payments were made on time following and then the loans were placed in deferment.  I was wondering if we could qualify for an fha loan with his past history.

Message 1 of 7
6 REPLIES 6
tooleman694
Valued Contributor

Re: Fha loan and student loan

They probably wont even ask about it, you should be good as long as you got the score.

Message 2 of 7
Anonymous
Not applicable

Re: Fha loan and student loan

See, I was told several times that if I had the score, there wouldn't be a problem or that they wouldn't ask for a lot of stuff.  Well, that wasn't the case for me.  They asked about a lot of things, asked for a lot of things, and I have the score. 

 

I guess it depends on who you go through and if the underwriter is having a good or bad day?  I have heard so many different stories and experiences. 

 

I think the best thing to do is talk to the loan officer, tell them your situation, and get their opinion. 

 

Edited to add that I am still in underwriting, fulfilled my conditions last Thursday and waiting to hear if i'm clear or not early this week.  I'm not saying that you are not good with your score, but i'm just saying that they might question those things, so it's better to talk to your loan officer to get an idea if this is going to be a problem or not.

Message 3 of 7
deannadb6
Member

Re: Fha loan and student loan

Thanks for the input.  His fico score on myfico is 680 which i think shoud be ok for qualification. I just read some things that you have to have your student loans in current good standing for 6 months and other things i have read say you should not have missed any payments on student loans.

Message 4 of 7
tooleman694
Valued Contributor

Re: Fha loan and student loan

Im in underwriting right now, and I defaulted on my student loans in 2009 and had to rehab them.

 

So far they have not said a thing about them.

Message 5 of 7
deannadb6
Member

Re: Fha loan and student loan

For the rehab program did your loans have to be in collections? How far behind were they?  Does the rehab program completely remove late paymenys from your credit report or just place it in good standing?

Message 6 of 7
tooleman694
Valued Contributor

Re: Fha loan and student loan

I was way way behind like 160 days, and they went to collections.

 

After they were rehabbed, the collections were removed but the late payments stayed on my report. So I have 4 defaulted student loans with late payments on my report. However they show as paid in full.

Message 7 of 7
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