Forgotten Your Password?

Need to Register?

Question Icon

I have student loans but they are deferred. Will they count as a part of my DTI?

by lianna161 from Botsford, Connecticut. Mar 21st 2016 Reply


George DeVine (gdevine)
#7 ranked lender in Rhode Island - 44 contributions

The payments would be included. You might consider refinancing the student loans if that would reduce the payment.

Mar 21st 2016
1
0
Larry Gray (lgray_312_247)
#4 ranked lender in California - 1,127 contributions

They will count as part of your DTI. There was a time when we could dismissthem from the DTI if deferred for at least 3 years, but no more.You might be pleasantly surprised at what you can reduce your student loan payments to if you have not done so yet, in refinancing them. If they are government it may be possible to consolidate them into one low loan payment.

Mar 21st 2016
1
0
Jesse Stroup (jessestroup)
#195 ranked lender in California - 589 contributions

The the student loan will need to be included into the debt to ratios numbers. I hope this helps. Jesse Stroup | California Mortgage Professional | www.JesseStroup.com | NMLS# 6229

Mar 22nd 2016
1
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Yes.. if you provide a statement from the student loan servicer stating what the payments will be once you are out of deferment, then the lender will use those anticipated payments for qualifying purposes.. if you do not provide this from the lender, then the mortgage lender must add 2% of your outstanding balance and add that as the newly anticipated payment.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 22nd 2016
1
0
Subscribe to our news feed.