All Forum Posts by: Letisia Crespo

Thank you all. By the two replies here, seems like each lender might just have different rules of what/how the payments are calculated.  

I am receiving conflicting information from different lenders, when it comes to the way student loans are calculated toward ratios when obtaining and FHA loan.

While I did some research and found the verbiage directly on HUD's portal. (Hud's Portal)

It seems it's still interpreted differently depending on who I ask. From one aspect I told the monthly payment being reported on the credit report can be used and no other information would be needed.    

While on the other hand I am being told it would need to be 1% of the loan balance , because many students may be on a income repayment plan which would mean there payments are not fully amortized. 

Can any one who has processed these scenarios please help explain which is it? 

Thanks so much!

-Letisia 

Waterfront single family home in the charming gated community of Coquina. Short walking distance to the Promenade shops with excellent ambiance of shopping & restaurants. Home features 4 bedrooms, 3 full bathrooms , split floor plan , & two living areas - plenty of room for your family! Enjoy the serene lake views from your screened patio with hurricane shutters. Seller NEEDS to sell fast and is motivated.

• MLS ID: A2209662

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