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  • (651) 552-3681

    Home Purchase - Home Refinance
    Serving MN WI IA ND SD CO FL

    Upload Documents Cambria Mortgage app
    Cambria Mortgage application

  • A common question people applying for home mortgage loans is how does their deferred student loan effect mortgage qualifying

    First understand that while a student loan may be deferred, lender reasoning is that eventually you will have to start making a payment, so we must calculate something into your debt ratio.

    Student loan debt ratio

     

    How and what we calculate for a payment depends on the type of loan you are applying for.

    If the credit report is reflecting the loans are in deferral

    Then for USDA, FHA, and Fannie Mae conventional loans, the minimum monthly payment is calculated at 1% of the outstanding balance. For example, a $50,000 student loan balance would results in a $500 payment into your debt ratio for mortgage loan qualifying purposes.

    For Conventional Freddie Mac loans, the payment is calculated at 0.50% so that same $50,000 loan results in a $250 payment.

    VA loans will treat the deferred balance at 1/12th of 5% of the loan, so the same $50,000 loan results in a payment of $209.

    IF  A PAYMENT IS SHOWING ON YOUR CREDIT REPORT

    If a payment is showing on the credit report, we use the payment on the credit report for Fannie Mae and Freddie Mac loans.

    FHA and USDA loans use the greater of the actual payment OR 1% of the outstanding balance, WHICHEVER IS GREATER.

    VA says if a payment is reporting on the credit report, but is less than the payment on the standard formula, you must get written proof of the lower payment, or use the 1/12th of 5% of the balance rule.

  • ** EXPERIENCE MATTERS **

    Top rated mortgage lender locally and nationally, year after year... This is because clients agree - Experienced Loan Officers with mortgage interest rates you can brag about and amazing service clearly sets us apart from the big banks and online lenders.

  • Equal Housing Lender. The Joe Metzler Team at Cambria Mortgage lends in Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, Colorado, and Florida only. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. Information here can become out of date, and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Not all programs available in all states. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. Joe Metzler, NMLS 274132, Cambria Mortgage NMLS 322798. © 1998 - 2025.

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