Please ensure Javascript is enabled for purposes of website accessibility

1-954-667-9110

How Do FHA Mortgage Lenders calculate student loan payments?

How Do FHA Mortgage Lenders treat Student Loans?

Student Loan Payments – Student loan(s) would be calculated as follows, regardless of the payment status. FHA mortgage lenders must use either the greater of: 1% of the outstanding balance on the loan; or the monthly payment reported on the FHA mortgage applicants  credit report; or the actual documented payment, provided the payment will fully amortize the loan over its term.

FHA – Student loans must be included in the FHA mortgage applicants liabilities, regardless of payment type or status of payments (cannot be excluded based on deferral or forbearance).
GUIDELINES
• The actual documented payment provided the payment will fully amortize the loan over its term.
• If the actual fully amortized payment is not provided then the greater of:
A) 1% of the outstanding balance of the loan;
B) The monthly payment reported on the borrower’s credit report.

FHA-MORTGAGE-LENDERS.COM - DISCALIMER

US Mortgage Lenders has an extensive lender network that allows us to provide unique and mortgage solutions. Contact US for the most update information on terms and conditions. All Information on this site Is for example, hypothetical purposes and should NOT be relied on for decision making.
Email Questions To Google
Hide Buttons
Skip to content