cancel
Showing results for 
Search instead for 
Did you mean: 

Student Loan Question

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Member

Student Loan Question

Is anyone able to tell me how Freddie Mac considers student loan debt?  Do the go off of your actual monthly payment, or do they have a specific formula they use?  Any help is appreciated!  Thanks!

Message 1 of 3
2 REPLIES 2
Established Contributor

Re: Student Loan Question

0.5% of balance or whatever is on the credit report; whichever is greater.

Mortgage Loan Officer in Greater Chicago Area plus 49 states
Message 2 of 3
Established Member

Re: Student Loan Question

Hey,

 I can tell you from experience I have been shopping around for a mortgage and have been told no from two banks one was becasue they would have to use 1% of student loand dept for a USDA loan which increased my DTI way over the mark and they didnt even consider my IBR payments. And Loandepot told me the same thing when i applied with them using the one percent and then they wanted a 5% down payment not sure if that was for the conventional route. I have been having a hard time and its so heartbreaking. All I can say is find a loan officer that will care and really try to get you approve and explain the loan process.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.