Student loans

[Anonymous]

My husband and I each have 150k in student loans, yes 300k total. We are both in the public service loan forgiveness program and are making the income based repayments. We want to apply for a conventional mortgage in about 3 months (working on increasing scores). Will loan officers count the 1% of our loan balance or will it be what’s reported on the credit reports which is the income based repayments? I’ve been told the income based repayments but a different loan officer told me they count 1.5% of the balance per Fannie Mae guidelines. 

[Anonymous]

Last year I was told that for Freddie Mac and Fannie Mae I would be able to use whatever is reported on my credit reports, so long as the payment is greater than $0.

I’m sure the experts will be able to give more up to date information though.

[NC_Mtg_Loaner]

FNMA allows the lender to use the IBR Payment amount as long as that's the amount that's reporting in the credit report drawn/utilized by the lender.

You should be okay with them as long as you are obtaining a conventional loan.