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Posts: 9
Registered: ‎01-16-2009
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Is This Possible? Student Loan IBR and Mortgage

The more I read about these the more questions I have and niches I'm trying to exploit. Here's my question.

I'm currently eligible for a VA home loan.
I have about $77k in Federal student loans.

Is it possible to have a monthly payment on the credit repor show $50 for student loan payments and that taken into consideration for underwriting purposes instead of the full standard repayment plan of say $900?

My goal here is to lower my DTI and what reports to the mortgage company on my credit report. So loan servicer grants a monthly payment of $50 a month and mortgage servicer uses that in DTI calc?
Posts: 8
Registered: ‎03-19-2017
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Re: Is This Possible? Student Loan IBR and Mortgage

I don't know how it works for other student loan servicers,  but I do know that when you go from a higher paying plan to an IBR plan,  the lower payment is now shows up as your monthly payment. As it changes,  so does the monthly payment amount reported. Also,  I found that if you have a reduced income any month before your annual recalculation,  submit your paperwork early. They will recalculate it even lower and that amount will be good for another year. 

I alway encourage people to use the IBR plans (request the lowest plan on the application) because it has a loan forgiveness too. 


Congrats BTW! 

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