Question about FHA and the Caivrs Report

[Anonymous]

I have an old defaulted student loan that I am currently doing the rehabilitation program for. I know that I am on the caivrs list because of this, but can I qualify for a fha loan now because I am making payments, or do I have to wait until the loan is rehabed?  I have looked in so many different websites trying to get an answer, but I've read so many different things. So confused.

[JM-AM]

I believe (not 100% sure) that FHA requires 1 year of on-time payments. Do not think it matters if in rehab.

Hopefully some one with more experience in rehab school loans and mortgage payments will chime in.

[ShanetheMortgageMan]

If you have a hit in CAIVRS then one of the following must be met:

-The account must be brought current

-The account is paid off

-A satisfactory repayment plan is made between the borrower and the federal agency

Some lenders may require the repayment plan to have gone on for 12 months, but it's not an FHA requirement and there certainly are lenders who are OK with less than 12 months.