Is it possible to get an FHA mortgage if you have a student loan that was in default?

The student loan is now being paid and will be shown as paid as agreed after 9 months of being paid on time.  I am trying to buy a house with a 3.5% down pmt in the meantime. 
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April 19 2009 - Bartlett
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Answers (4)

if the student loan was federal, you may have to address a negitive Caivrs and provide the documention of the payment history and repayment plan. plus, include that payment within your qualifing numbers. keep in mind, this is case by case, some lender will only accept a 12 months history while other will only need minimum of 3 months. you lender should be able to exceute a Caivrs check in 5 minutes. link
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September 13 2009
There are companies that go down to 600 credit score on FHA as well.
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September 13 2009
Marcelo is right. As long as you provide a detailed letter of explanation, you should be fine.
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April 23 2009
As long as your credit score is 620 or better, you should be able to get FHA financing thru the mortgage companies investors.  A letter of explanation regarding your late payments will be required.
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April 19 2009
 
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Is it possible to get an FHA mortgage if you have a student loan that was in default?
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