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How are Student Loans included in your Debt?

Annette Bui| Updated May 13, 2020 | Mortgage Programs 101

Most people do not realize this but even when student loan payments are in deferment or forbearance. The reduced payment may not actually be what is considered in your debt and income calculation for a mortgage approval process. The underwriting guidelines are slightly more stringent if the loan deferment date does not extend past 12 months from when a loan is expected to close  and thus will use up to 1% of the student loan balanced as the payment used to qualify. Sometimes, this may actually end up being a deal-breaker. That is why it is crucial to gather your paperwork upfront especially for a pre-approval and have your paperwork reviewed in full before falling in love with a house during your home search.


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