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Hello,
i'm targing a fall mortgage app and am trying to prepare as much as possible. My quesion involves students loans. My loans are currently being paid and have no negatives attached to them, but I did have a couple of 'Administrative Forbearances' due to changing the payment plan, that resulted in a couple of months being skipped (Basically they cancel that monthly payment and note the report as 'Forebearance, paying as agreed') The report no longer says that, just current and pays as agreed. however, in those past months where there were no payments it just has an 'X' next to it. So it's not a negative, but i'm curious how an underwriter might interpret that?
I don't know if the credit report pulled looks the same for all lenders that pulls them, however I just saw mine from my lender and it didn't show all of that (each month)....I wouldn't worry about it tho, the least they may ask for an explanation letter.
If it didn't affect your score in any way, no need to worry.
I don't know if you're not paying or in forbearance because you want to keep the SLs from being counted in your DTI, so I'll address that. Basically, your student loans being deferred or in forbearance does not affect your credit score and therefore won't hurt your loan, but deferring them or putting them in forbearance will not keep the lender from utilizing SOME payment amount in your DTI. They will generally use the actual payment amount (what it would be) or the minimum 1% of the balance as generally calculated for payment. Good luck.