My husband and I have just submitted documents to obtain a preapproval for our first mortgage. In our minds, we think we’re in a good spot to start shopping for a mortgage loan. Well the loan officer comes back to us saying our DTI is too high because of my student loans and his car loan. They are estimating for my loan payments to be somewhere in the area of 800 per month. At this time, I am not even required to make payments. My credit report supports this and also the letter from my loan servicer. How would someone with student loans ever qualify for a home loan?
Real Estate Basics : Tips for the Mortgage Loan Process