Please help us know if we qualify?

[Anonymous]

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@Imperfectfuture wrote:

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@Anonymous wrote:

Thank you!  Have you recently purchased a home?

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You will need to get the DTI down, they will calculate 30% for front end.  The DTI you are talking about will be applied to house payment, making back end 47%.  That is a bit high.  They will accept your current income with the renewed contracts.  Be careful, government programs are making changes to IBR payments.  Unless regular payment, then they take 1% of loan amount.  Get husband into repayment before apply.  It will be better if you folks file taxes together.

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We file taxes seperately so that our student loan payments aren't quite as high.  Where do you get 30% from for DTI?  I basically just need to know if FHA accepts IBR payments?  If so, I know I'm good even if my husband's loans are not in repatment.

[BrianB_The_Loan_Professor]

You will be ok - we count the education leading up to the job as history so the two years wont be an issue

You will need to find out what the regular payment will be on your loan or they will use the percentage - no longer can we use IBR numbers

Seperate taxes wont be an issue  - since you are w2 they will be looking more at your pay stub than the taxes

Good Luck hope this helps

BrianB