Will student loans in forberance prevent you from a mortgage? I read somewhere that you can be approved with deferred payments but I haven't read anything about loans in forberance? Please share your knowledge and/or experience. Thanks
If you SLs are not showing a payment, FHA and USDA loan programs will require the lender to hit you with a 1% payment which generally blows most deals out of the water. VA will accept a forbearance. If you for sure going to apply for home loan, I would speak with a Loan Officer asap who would most likely recommend requesting an IBR then at least you can apply for a Conventional Loan as long as the payment appears on the credit report, you should be good to go. Or you can request a fully amortized payment 40-year schedule to see if that payment will fly. PM me if you have any additional questions.
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