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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Will a student loan will affect me if I want to refinance my house when the student loan is deferred?

Will a student loan will affect me if I want to refinance my house when the student loan is deferred?

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3 Responses to "Will a student loan will affect me if I want to refinance my house when the student loan is deferred?"

  1. KELSEY says:
    It shouldn’t affect the mortgage refinance as long as you can prove the payments will be deferred for at least another 12 months. If they are not deferred that long then the lender will most likely could those payments against you for qualifying purposes.
  2. CreditAlignment.com says:
    actually the payments need to be deferred for at least 36months not 12months.

    also, i would get a copy of the student loan agreement to send to the underwriter. an underwriter has their own model to calculate the monthly payments and it’s normally MUCH higher than what you’re actually going to pay.

  3. varias78 says:
    A student loan should not affect your refinance options, even is the loan is in deferment or not. What mortgage banks look into is if the person makes enough money to pay the loan every month without any financial hardship. also mortgage banks look into your current credit scores to see what interest rates you qualify for, the value of the property to determine how much money you can borrow against the equity on the property. many factors play into a mortgage refinance. hopefully this helps you!

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