Student loan in deferment and credit report
Q: I have a student loan in deferment which shows on my credit report without terms of repayment. I am about to start shopping for a house, and was told that until the monthly payments show on credit report, I can't get a mortgage, because banks would be unable to determine my monthly expenses and subsequently debt to income ratio. Is there anything I can do?
A: Whoever told you that is not very knowledgeable. All you have to do is to get the terms and conditions of this loan, which would show the interest rates, number of months/years over which you will be repaying, etc. Any lender will be able to calculate your monthly payment to add it to recurring monthly expenses.
Mon Apr 21, 2008 03:04PM | Copyright: www.bad-credit-advisor.com | More in Student Loans | Comments (0)
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