I met with mortgage broker today to begin to set my ducks in a row for spring. He told me USDA will only use a fixed student loan payment (which would be much more than my income based Payment and most likely make my debt to income out of reach because I owe 100k). Is this true and if so, is this true for FHA also, or can you use an income based Payment for FHA?? Very upsetting to hear this today and just looking for some clarity please...
Thanks, I decided to them out of deferment starting in January so they are showing on credit report by March. If I am paying IBR for FHA approval, am I still allowed to get a statement from the lender to show what the fixed rate would be in case we found something in the USDA zone? Would USDA accept that and still allow me to stay in IBR?
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