I'm buying a house. My student loans are not in repayment should they be included in my debt to income ratio?
Answer:
No if the payments are going to be deffered you will only have to prove the payments are deffered. they will not count towards your debt ratio. feel free to log onto http://justgetaloan.net/ to get a free,fast pre approval. Or if there are any additional questions please feel free to contact me
Jenold Freeman at jfreeman@justgetaloan.net or 866 530 7300 ext 7305
yes they have to be. I had a friend who defaulted on his student loans and lost his house. make sure they consider everything upfront even if it means waiting a little longer to own. you don't want to get into a bind and not be able to repay
yes..
No, they won't be. I just went through this, as I'm buying a house, too. My mortgage lender looked only at my current debt level and did not look ahead to payments that will be due in the future. Good luck. (Note, by the way, that "default"---as referenced in a previous response---is not the same as "not yet in repayment." Default means that the debt is due and you have not paid it. Not yet in repayment means that the debt is not yet due.)
Your meaning the payments aren't due on the stud loan yet. it would be consider in debt to income ratio. but not in payment to income ratio at this time. because it's not a payment yet. when your out of school I assume that is when your payments will start. your income I also assume will be higher when your out of school and the paymen comes due. get as much paper work and info the stud loan pertaining to what the payment will be and when it will start. also get something that will project what your income will be when the stud loan comes due. hope this helps. good luck
You have an argument to hang your hat on as to why you don't include them in your debt to income ratio. But the student loans will show up on your credit report and most lenders will include them. The pesky things will demand repyament eventually.
You should include them in this ratio
no if they are deferred for for the next 3 years.
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