We follow the FHA guidelines which are posted below.
The Mortgagee may exclude the payment from the Borrower’s monthly debt
calculation where written documentation from the student loan program,
creditor, or student loan servicer indicates that the loan balance has been
forgiven, canceled, discharged, or otherwise paid in full.
• the payment amount reported on the credit report or the actual
documented payment, when the payment amount is above zero; or
• 0.5 percent of the outstanding loan balance, when the monthly payment
reported on the Borrower’s credit report is zero.
VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
