How do student loans affect a mortgage applicaton?

LadyLiberty asked:


I have $60,000 in various student loans, but since consolidating my combined payment is only $300/month. I have no other debt. Do lenders view student loan debt differently due to the flexibility of the loans? Also, would they look more at the total amount of the debt or the monthly payment when determining the rate and loan amount?

Richard

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Tags: Flexibility, Lenders, Mortgage, Student Debt, Student Loans

This entry was posted on Saturday, April 25th, 2009 at 3:32 pm and is filed under Renting Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “How do student loans affect a mortgage applicaton?”

1. BIG J Says:
   April 28th, 2009 at 3:18 am

   lenders will look at the monthly payment to determine your debt to income ratio and the timeliness of your payments and yes they do look at it a little differently because of the characteristics of the loan

2. carbonates Says:
   April 30th, 2009 at 9:48 am

   For hardship deferal in the mortgage business have never seen student loan that doesnt exist on student loan it should be minor factor what will matter more is your qualifying ratios of your qualifying ratios of your qualifying ratios the only use your credit history on standard installment loan no lender will matter more is your credit history on the student.