Student Loans

[momof3md]

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Hi,

I am at a CC now and will be transferring to UCR next year. My hubby and I need to refinance around that time. My question.. Will my student loans cause any problems of getting a good interest rate. I am not sure if loan officer will add them in the equation. Any advice would be great.

Thanks
Michelle

 

[arcin]

It really depends on the institution as far as the loan is concerned. I use to be a loan officer for a Credit Union and we would include student loans unless the term of the loan was less than the deferral on the student loan. So if the loan was 60 months and the party with the student loan was going to be in school for only a little while longer then we included it. Does that make sense? Feel free to PM me if you need any help.

 

[medblue]

i used to work for a bank and we did not include student loans if they were in deferrent. i'm sure the rules vary from institution to institution. you may want to call and speak to the underwriter(s) there first before you apply. once you find a good match you can apply then. no need to drag your credit down with constant applications. good luck!