jonathanj003 asked:


I am currently applying for a mortgage and qualify no problem by myself and on my credit for a good sized mortgage with my current financial status. However, I am starting school back this semester and am needing to take out a large student loan (~$15,000). How bad will this effect me getting my mortgage? Student loan payments will be deferred until graduation so there will be no monthly payments for a few years. If I have to do them both (and yes I need to) should I wait until the underwriters approve my mortgage and then continue with my student loan application? I may have to take out my student loan before the mortgage–how would this effect it?

Sorry for so many questions….just looking for some advice.

Elsie