The short answer is yes but depending on the loan type this may vary. This can be frustrating as you might not have a student loan payment required for some time, but agency guidelines (FHA, Fannie Mae, Freddie Mac, etc) tell lenders how to calculate the debt-to-income ratio based on the student loan debt. For example, conventional may require a calculation of 1% of the outstanding balance in order to figure out your "payment" to use in the debt-to-income calculation while FHA may only require .5% of the outstanding balance.
If you have student loan debt it is important to look at different loan options to see what is going to be best for you and your situation.
Call me or text me at 316-262-7766 to learn more about different loans options that might be available to you.
MTG Family Mortgage is a DBA of Open Mortgage, LLC (NMLS #2975, nmlsconsumeraccess.org) is a Kansas Licensed Mortgage Company. Lic. # MC0001373-BR033. Michael Gonzales NMLS #221988, LO.0001288 (Branch NMLS #327320). 2290 N. Tyler Rd., Suite 200, Wichita, KS 67205. Equal Housing Opportunity Lender.
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