One of the factors mortgage lenders consider when evaluating your application is your debt-to-income ratio. Lenders usually require your total monthly debt payments, including the mortgage, to be 36 percent or less of your total gross monthly income. Lenders are often willing to exclude debts from the calculations if you aren't making payments on them now and will not make payments on them for at least another year. In the case of deferred student loan payments, you need to show your lender that payments are scheduled to begin at least one year in the future.
Instructions
1. Contact your school's registrar's office if your loans are deferred because of your in-school status.
2. Ask for a loan deferment letter showing that you're currently in school and also listing your expected graduation date.
3. Contact your lender who deferred the loan payments if your deferment was granted for a reason other than being currently enrolled. You can find the lender's phone number by looking on its website or on mail you have received.
4. Ask for a copy of the deferment agreement showing the date on which you're projected to resume payments. If your loan has a grace period at the end of the deferment, ask the lender to include this grace period on the deferment letter.
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