SL consolidation cutting it close for app

[thankfulheart]

I thought my student loan consolidation/move to IBR plan would be done by now, giving it time to report for June, when I plan to apply for my mortgage.  I'm on a tight timeline for a variety of reasons including lease and vacation time locked in. I'm fairly confident the transaction will be complete, just not that it will have time to report.  Will a billing statement from the SL servicer be enough to demonstrate the new payment or will I need to do something to get the CRAs updated correctly?  I can't believe I'm just 5 weeks away from applying!

[rckstrscott]

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@thankfulheart wrote:

I thought my student loan consolidation/move to IBR plan would be done by now, giving it time to report for June, when I plan to apply for my mortgage.  I'm on a tight timeline for a variety of reasons including lease and vacation time locked in. I'm fairly confident the transaction will be complete, just not that it will have time to report.  Will a billing statement from the SL servicer be enough to demonstrate the new payment or will I need to do something to get the CRAs updated correctly?  I can't believe I'm just 5 weeks away from applying!

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Well, when I applied, it really didnt matter what was on there at the start, just what is showing at close.. soo, if you know it is coming, I would say app away..

-scott

[vlaw1084]

I was in the same boat as you and if you know your loan is being consolodated and can check online, I would say it is safe to start the app process.  I can now check my student loan online so I know that loan was consolodated. 

J