@Dianamarie1013 wrote:
I just applied for an FHA through NFCU to buy a home in TX around the 180-200,000 range. The only thing that stopped the preapproval was our debt to income, but they include 25k in student loans that are deffered because I am in school now. Is there anything around this? The rep said we would be able to get a preapproval had we had 20k less in debt. When I asked if the student loans were counted would that help, and the rep said yes. I'm working on the debt now, but we just went through a move and put on more moving from VA to TX. Is there any other options? Or are we just stuck waiting.
Ficos are around 650-670 for my husband and I (pulled through NFCU Mortgage). We are making 65k a year. I would like a low down payment, because we spent a lot of our savings moving. Thank you for your help.
in school deferment?
how much school do you have to go?
we have a month to order an fha case# to exclude the student loan payments..... maybe that lender has their own lender guideline overlays.
if we can prove still in school.... and how long left.... we will have effectively proven that the loans are deferred for more than 12 months. and will not be considered on an fha loan
Retired Lender
