Va loan guidelines and underwriter requirements

Asked by Shane Sinski, Colorado Thu Dec 6, 2012

I have a nelnet loan only deferred for 11 months from now, I am on income based repayment plan. nelnet states they will not put anything in writing saying i will be deferred again or what my next payment amount will be since now on the income based plan.

lenders requesting proof it will be longer then 12 months. someone here was kind enough to show me the va guidelines which say if borrow can submit evidence "may be" deferred outside time frame does not need to be considered in debt/income ratio.

lender says they have recieved writing before & it should be no problem, nelnet says my loan summary should be enough evidence.

who's right about the situation is it other student loan companies who will submit something in writing and nelnet just does not. either way wouldnt my paystubs for this year be enough evidence im qualified for another deferment.

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Sean Dougher…, Agent, Fort Collins, CO
Thu Dec 6, 2012
You've already asked this question. If you cannot afford the payments without your student loan payments being deferred, then maybe you should look for a lower priced home.

The bank has specific guidelines that say whether or not a loan has a good chance of being repaid, and if their guidelines say that you do not qualify for this loan without having the other, valid, loan being deferred, then they should deny your loan.

Good luck.
0 votes
1st you still didnt take everything consideration after i replied to you last time
2nd like stated before i'll be saving 200 vs rent. Im smart i got the best rent available right now period. explain how i wont be able to pay after savings?
3rd its for the bascially the lowest price house in the area as well houses just dont come cheaper. I would move if i could i know tons of different towns were i could get something nice alot cheaper.
Flag Thu Dec 6, 2012
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