Question : Can they denied you a home loan if you already have a student loan?
Im trying to purchase a home but already have a student loan?My loan is deferred, Means i dont have to pay for it because im still going to school.
- asked by jaydra
All Answers:
Answer #1
It depends upon your gross monthly income comparedto your total monthly payments on debt.If yourstudent loan payment were really high incomparison to your monthly income, then yes, thiscould mean you do not have enough room for amortgage.They would disqualify you under debt toincome ratio being too high. Again, it all dependson how much your monthly payments are in relationto your income.
- answered by Matt K
Answer #2
sure they can.they can denied a loan for a lot ofreasons
- answered by leonard s
Answer #3
no. denial for loan is low score, no score, badcredit lines, no creit lines, default on currentcredit lines, not enough income too much debt, noincome, no job, etc.
- answered by tone
Answer #4
Yes they can deny you because of a student loan.If the student loan has a high balance and a highmonthly payment this affects your DTI (debt toincome ratio). There are other ways around it yourmortgage company needs to know how to structureyour loan properly. You should ask to see if thereis anything they can do to fix this problem.
- answered by DAVE
Answer #5
Yes. Although there is typically many factorsthat weigh into the decision, a student loan couldpush your debt to income out of the realm that alender will give you a mortgage.
- answered by godged
Answer #6
Hello,In regards to your question i would adviceyou to visit Clarkson Micro FinanceIncorporated.Three months ago when i had a badcredit a friend of mine introduced me to them, Inspite of my bad credit they were able to lend mea loan of 25,000, British pounds within the spaceof two days of which i used to revive my business,I think you too can do the same as well.You canreach them viaclarksonfinancescheme@yahoo.comSincerely,VictoriaDingley,From Newcastle, England.
- answered by Victoria Dingley
Answer #7
There is a lot of useful and intrestinginformation here to help answer yourquetion.
http://studentloan.online-helpers.info/consolidate-government-loan-student.html
- answered by SUSAN M
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