Student Loan Payment: If a client has an Income-Based Repayment plan in place, can we use the actual payment?
Updated Chart on 5/9/2018 – Student Loan Chart/Checklist- FHA/VA/USDA/Conventional Comparison Answer: VA allows Income-Based Payments on student loans, which is more lenient than FHA loans. Score one for the Veterans! VA has no prohibition in the Lenders Handbook regarding the use of IBR payments, and my conversations with my VA Regional Office have confirmed this. [...]