Ibr\pslf

[PCPsRFutr]

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It's a confusing process but it helps to read advice from others. I am a 4th yr med student and planning on doing PSLF. I am planning on consolidating my loans as soon as I can and choosing not to have the 6 month Grace period so I can start my IBR payments earlier.

My question is this: how long does it take to get some type of documentation of my required monthly loan payment from my lender after I apply for IBR? I want to buy a house before residency starts but to get approved for a certain Resident Loan the bank offers I need documentation of my monthly repayment amount. Under IBR, I'll qualify for the mortgage because it will be a low monthly payment...I'm just not sure when I can realistically have that documentation in hand.

Perfect scenario: apply for IBR in June, be approved and have documentation from my lender in June/July. Is that possible?

Thanks!

 

[LazyElemental]

There is a finance section of this site you should read. But if I recall their discussions, if you file for taxes this year you can use that to set up your IBR payments in june. (go read the other section!)

http://forums.studentdoctor.net/forumdisplay.php?f=30