I know you are nervous. You want to buy a house now, but you are only working part-time to support yourself through school. There are many student loan accounts appear on your credit report. You will not be able to qualify for a home loan with your current earning, but you know you will be able to make all payments once you graduate with a full-time job. “What should I do?” you asked. If you find this article on the internet, you are in luck. In some circumstances, lenders do not need to include your student loan payments as debts when you are applying for a home loan.
Depending on the loan program that you are applying for, this is the general rules for student loans. If you are applying for a conventional home loans (regular loan program) and you can provide proof to support that student loan payments will be deferred for minimum of 3 years, lenders will not include them as a debt (seasoning depends on the lender). If you are applying for an FHA financing, all you need is a document to support student loan payments will be deferred for minimum of 1 year.
Documents to support period of deferment includes (but not limited to) a copy of the student loan statement or credit supplement ordered through your lender (will write about this later).
There is always hope.