Kentucky Mortgage Lender

Student Loan Guidelines for Qualifying for a Mortgage Loan in Kentucky (2025 Update) If you have student loan debt and you’re planning to buy a home in Kentucky, you’re not alone. Many first-time homebuyers face this same challenge — understanding how their student loans impact mortgage qualification. The good news? Each loan program ( FHA , VA , USDA , Fannie Mae , and Freddie Mac ) has its own approach to handling student loan payments. Here’s a breakdown of how lenders calculate student loan payments for each major loan type when determining your debt-to-income (DTI) ratio . FHA Loans (Federal Housing Administration) Student Loan Payment Requirement: FHA requires all student loans to be included in the borrower’s liabilities, no matter the payment type or loan status (including deferment or forbearance). Lenders must use the greater of: 0.5% of the outstanding balance, or The payment shown on the credit report ✅ However, if your loan servicer provides documentatio...

 Student Loan Repayment Plan for Mortgage Loans Today we are going to talk about every student’s least favorite subject, their student loans. I also recognize that this issue has become quite a hot button topic so I will attempt to tap dance around both sides of the political aisle and stick to the facts. The fact is those can be difficult to find depending on where the loan holder is finding the information so today we are going to attempt to provide some clarity. September 1, 2023 the COVID student loan forbearance is a thing of the past and despite new strains and new cases and new blah blah blah whether we agree or disagree, one thing is true, student loans are due. My team has spoken with dozens if not hundreds of clients in the past year that were 100% convinced that their student loans were going to be forgiven and for some that has actually happened, but others are in for a rude awakening if they aren’t properly armed with the right information. ...