Financing for a house hack

[Inga Fonder]

Good morning everyone,

I'm trying to get into real estate investments using the house hacking method for my first property. I've found a realtor to work with and am now working with someone in order to receive financing. However, I'm currently a graduate student in IL, and have loans that don't have monthly payments being reported because they're in deferment. I do have a steady monthly income from working at the university. Even so, the mortgage lender informed me that due to federal laws, the way student loans are reported has a significant impact on the amount I can be provided. 

It was suggested that I contact the Federal Loan agency to have the loans taken out of deferment, and begin reporting monthly payments. This process can take 1-3 months depending on how quickly they handle the request. Currently, I'd only be able to take out a mortgage loan for 60-70k, but the amount would more than double if the student loans were removed from deferment.

Has anyone had experience dealing with a similar circumstance? If so, what's an ideal way to approach the situation in order to move forward? I appreciate any input or suggestions.

-Inga