Student loan DEBT stopping Mortgage approval

[hegemony]

13 hours ago, dredee0 said:

Quick Update. Peoples Mortgage lied.  I have no problem sharing that I am W2. with 1099 income, and high student loan debt.  The 1099 income went against me, so now pay off $10k in debt... nah.  The website has grants and down payment assistance programs that just "happened" to not apply to me.  Also, I was charged $4k despite getting to the NEXT higher score bracket.
 

lied about what? you paid someone 4k for what?

[dredee0]

4 hours ago, hegemony said:

lied about what? you paid someone 4k for what?

Sorry.  Lied about having the grants and stuff for the Teacher Next Door. They didnt apply to me.    They were also adding on $4k in origination, points, and other fees that were supposed to be much lower.  It broke my heart, but the other program was better, even if I have to jump through a few more hoops.  I'll update until its done.

 

I look forward to seeing the Navient private loan suit update. I surely have THREE of them.  I've been paying $485/month since 2021, but if that goes away, then I'm looking MUCH better saving that big of a payment each month.

Edited January 16, 2022 by dredee0

[dredee0]

Another quick update.  My Mom is willing to cosign, but one loan officer says he needs an "extended payment plan", but why?  It assumes I pay off ALL debt and does not factor in loan cancellation.  $2700/month in 5 years is a lot still. lol.

 

Sigh.  I'm looking at getting my scores above 720 so I can apply again in April. Not closing in May will cost me $8k more.

[dredee0]

Quick update. Officially closed.  Student loans were used as an excuse!! We IN HERE!!! 

[Knight]

On 5/5/2019 at 4:27 PM, dredee0 said:

Not private loans.  Yes I am borrowing for the Ph.D.  As an educator, the majority of the balance will be forgiven and payments are based on income.  As a business owner, that works in my favor.

 

I thought you don't pay for a PhD.

[Knight]

On 9/28/2019 at 12:33 AM, BringMeTheHorizon said:

I also have student debt (& a PhD). I get where you're coming from. 

 

 

 

Did you borrow loans for your PhD?

[dredee0]

Yes, unfortunately.  I spent four years or so stuck AND the degree would no longer count for my certification.