New Mortgage with New Student Loans

[PresidentPatton]

I have a quick question. I am hoping to buy a new home in the next couple of months as I am working on credit wows but am also wanting to get my MBA started. Is it wise to start my MBA and begin racking up new student loans now or wait to start school after I close on a new house?

Thanks for any guidance you all might have to give!

[kjel]

---

@PresidentPatton wrote:

I have a quick question. I am hoping to buy a new home in the next couple of months as I am working on credit wows but am also wanting to get my MBA started. Is it wise to start my MBA and begin racking up new student loans now or wait to start school after I close on a new house?

Thanks for any guidance you all might have to give!

---

If you have student loans showing on your reports, even if they are in deferment, the eventual payment may be used to calculate your DTI. If the house is the priority at the moment, I'd wait on returning to school.

[Anonymous]

If your loans are in deferment for 1 year past the closing date, then it will not go against you dti. In order to get your loans deffered, you must be enrolled at least half time. (For graduate students, that's usually about 4-5 credit hours per semester depending on your school.)

[frugalQ]

shane posted an article stating FHA is changing the rules on deferred student loans.  i recommend checking out the new rules as they are supposed to begin including them.

for conventional, you can't have your student loans in deferment.

[PresidentPatton]

Thank you everyone!

I do currently have 2 student loans but they are paid as agreed. I just didn't want to mess up my future mortgage app with new student loans. I'm hoping to get into a new house withint the next few months so I will hold off on pursuing the student loans for my MBA.

Thanks Again.