DTI Question (loan, mortgage companies, student loan, banks)

[Mrx161]

Do mortgage lenders include debt such as student loans that are not currently due in your debt to income ratio? The loans in question are not due for over a year and no payment is shown or calculated. Would a lender require you to include this in your DTI when applying?

[adjusterjack]

Common sense tells me yes. Because your payments on the student loan will impact your ability to pay your mortgage.


You can call around to banks and mortgage companies and get a better answer.

[LoanChic]

Depends on the type of loan you are applying for. For students loans that are in deferment, FHA and USDA use 1% of the balance as the minimum monthly payment. For VA loans, you can omit the payment if the student loan is deferred for 12 months or longer. For Fannie Mae conventional loans, 1% of balance is used as minimum payment and for Freddie Mac conventional, 1/2% of balance is used as minimum monthly payment.

[Mrx161]

Thank you that was exactly what I was looking for I appreciate your response