Does my student loan count against DTI if it is in deferment?

It depends.. Lending programs vary.. FHA, VA, USDA, and conventional all have different guidelines when it comes to deferred student loans.. some programs say we don't have to consider the future debt.. other lending programs say we do.. and because each lender can have their own rules above and beyond conforming guidelines, even if they don't have to consider the debt, some lenders might still... if you want to know for sure, contact a local mortgage broker and apply with him.. once he sees your complete profile, he can properly advise you.. .. 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. 480-287-5714 WilliamAcres.com

Amberlee, it will need to be deferred for 12 months from time of closing to not be considered part of DTI.

Amber,The short answer is, much like other things in the mortgage business, it depends. One of the key questions is the length of the deferment. It also depend on what kind of loan you are looking to get. For an FHA or USDA loan, if the loan is in deferment greater than a year, it would not count against your DTI. For a conventional loan, it will count against your DTI. I would be glad to discuss it further with you, if you like. Please call 316-259-5862 or email at mpurkey@primeres.com.

Yes if a conventional or USDA loan, no ONLY if deferred for 12 months after you close AND a FHA or VA loan. Good luck! (sometimes wish I were back in the KC area...)

Amberlee Caliber Home Loans is located here in Johnson County. We not only help facilitate your loan but we carry your note as well, basically you will be with a local lender for a lifetime. All of the answers you have recieved are true. I would love to sit down, or speak with you further of what we can do to help you get into a new home. Feel free to call me at 913-871-2005 to further assist you in a no obligation consultation. I find helping people regardless if they retain my services is a win win situation. Have a great Halloween!!!

FHA and VA you can ignore if you are deferred for at least 12 months at closing. You will need proof from the loan providers that they are deferred and for how long. Conventional you cannot ignore the payment with most banks. Since they are in deferrment you can call your loan provider and get proof of what the "estimated" payments would be and that is what the lender could/should use.

This would depend on how long its in deferment and the loan type. FHA allows you to not count future student loan payments as debt as long as they are in deferment for at least 12 months. This does not mean this future obligation will be completely ignored however - an underwriter will still apply common sense and look at the impact of your ability to pay your new mortgage obligation once it comes out of deferment. Best of Luck to you!!!

If deferred for over 12 months you should be good.