Comments on: How do student loans affect a mortgage applicaton?

By: Marian Martin

Marian Martin — Thu, 03 Sep 2009 11:54:03 +0000

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By: Tina Matthew

Tina Matthew — Tue, 01 Sep 2009 21:04:36 +0000

I applied and was approved for one of your loans yesterday and I wanted to write and tell you about my experience. My loan agent, Mark M. was amazing! He handled everything very professionally and quickly. He was extremely patient, helpful and very courteous at ALL TIMES. There was NO STRESS or pressure what so ever. He walked us through the whole procedure and made sure we understood each step before moving on to the next one. I ended up having to call him back with a correction and he took care of it immediately. He was just a true joy and I just can’t say enough. I hope you will give him the recognition he so deserves because it has been a very long time since I have had wonderful service like this! This was a totally stress free and wonderful experience! here is there email, Thank you Mark!!

Yours Truly,

T Matthews Sr.

By: nidia

nidia — Mon, 31 Aug 2009 12:33:36 +0000

With 20 years experience in the mortgage business, I have never seen a student loan that was in repayment treated any differently than any other long term debt. While you may be able to ask for a hardship deferal in the future, which is the only advantage on a student loan that doesn’t exist on a standard installment loan, no lender wants to anticipate that circumstance. As long as the payments extend past 10 months in the future, the lender will only use your monthly payment as part of your qualifying ratios. The total debt is not that important and would only be a minor factor. What will matter more is your payment history on the student loan: it should be perfect. It all comes down to the quality of your credit history (your FICO score) and your qualifying ratios of debt/income.

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By: jlf

jlf — Sun, 30 Aug 2009 20:14:50 +0000

Yes, it is viewed differently than, say, credit card debt. They look to see if the loans are in good standing and what your monthly payments are.

By: San Diego Art Nut

San Diego Art Nut — Fri, 28 Aug 2009 00:09:11 +0000

Your best answers will come from a mortgage lender or a loan officer at a bank. It will really depend on many factors that may be regional or temporal.

By: mar c

mar c — Wed, 26 Aug 2009 13:31:37 +0000

it’s the loan…they do not care who you owe it to