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if i defaulted on my student loans 1 year ago, can i still get a mortgage?

by harmonyvv9768 from Gallup, New Mexico. Apr 30th 2015 Reply


Colby Neal (ScottsdaleInsurance)
#109 ranked lender in Arizona - 71 contributions

Since a student loan is a gov't debt it must be paid or on a payment plan for (I believe) 6 months.

Apr 30th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Yes.. eventually.. all conforming lending requires you have no delinquent government debt.. if you defaulted on student loans, then it will show on your credit report, and the lender will require that you pay the student loans off or bring the payments current.. Current lending guidelines will require you make 6 on time payments before you can be eligible for an FHA loan.. 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

Apr 30th 2015
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Jericho Cherry (Jerichocherry)
#56 ranked lender in Virginia - 1,107 contributions

It has to be paid off, or as the others have said at least a 6 mos. good payment history.

Apr 30th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,243 contributions

you need to work on getting back in good graces with the student loans if you want a mortgage. Start on it today so you can move forward with purchasing

Apr 30th 2015
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Ron Pippin (RonPippin)
#26 ranked lender in Utah - 158 contributions

Lenders base decisions on past history. If you show you can't handle student loans, the make an assumption you may not handle a loan with a higher payment. If you get back on track with them, then sure. Ignoring them won't make it go away.

May 6th 2015
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