If you are working with clients who have outstanding student loans, FHA, VA, USDA and Conventional underwriting rules differ on how to figure the monthly payments. It could either make or break a loan approval. Post below if you’d like more info and a handy comparison chart.
Download: Student Loan Repayment Chart – FHA/VA/USDA/Fannie/Freddie (updated 8-29-2018). Answer for FANNIE: Fannie Mae (DU) does not accept the IBR even if it is reported on the credit report. Answer for FREDDIE: However, Freddie Mac does provide a loophole in their selling guide clip below. Notice that if the loan is reporting on the credit […]