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I have a lot of student loans but they are in deferment. Do they count against my debt to income? Also is the Nelnet summary/mortgage verification form enough documentation?
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Best Expert Answer
Joe Wallace
8 months ago
FHA loan rules in HUD 4000.1 state that the lender must have documentation showing the status of your student loan. Furthermore, "Regardless of the payment status, the Mortgagee must use either:
the greater of:
- 1 percent of the outstanding balance on the loan; or
- the monthly payment reported on the Borrower’s credit report; or

the actual documented payment, provided the payment will fully amortize
the loan over its term."
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