If you have a student loan with a payment based on your income, it’s a good idea to keep a copy of that agreement to prove your arrangement when applying for home financing. Curious about how a home financing lender counts student loan debt? Let’s Talk! I’m happy to answer your questions.
Related Article Title: Fannie Mae – Student Loans – Documenting Income-Based Repayment Amount Question: My borrower is on an income-based repayment plan for his student loan, which is $0/month. I have a statement showing the $0 payment as well as the credit report showing a $0 payment. However, processing believes I need more documentation that […]