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Student Loans and USDA Guaranteed

jaylynn30
Member

Student Loans and USDA Guaranteed

Hello all!

 

I recently came across a change to the way USDA calculates student loan payments in regard to DTI. Starting September of 2019 it looks to be .5% of the balance instead of 1%. I've included a link to where I found this below. Has anyone had experience with a lender implementing this yet? 

 

https://content.govdelivery.com/accounts/USDARD/bulletins/26142f4

Message 1 of 4
3 REPLIES 3
kc0039
Established Contributor

Re: Student Loans and USDA Guaranteed

All lenders will use this as soon as this rule is in effect, barring any overlays.

Licensed in IL
Message 2 of 4
jaylynn30
Member

Re: Student Loans and USDA Guaranteed

That's great to hear! Thank you for your response! 

Message 3 of 4
homeloanexpert
Established Contributor

Re: Student Loans and USDA Guaranteed

You are correct for USDA RDL. Temporarily it's the higher of .5% or actual payment that appears on your credit report,

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Message 4 of 4
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