FHA and student loans

[Jose Diaz]

Hello to all,

Hope everyone is well. My wife and I are looking forward to purchasing are first home in the near future (Northern Virginia). We read a few months ago that FHA had changed its guidelines regarding student loans and now currently uses actual monthly payment of loans vs 1% payment of total loan amount. This is a break-through for us as it allows us an opportunity to purchase a home.

In speaking with different lenders we are finding that some are choosing to use .5% rather the FHA guideline. How come lenders are not following the guidelines and does it just come down to finding a lender that will follow the new guidelines?

Thank you

Jose