Can I qualify for a conventional mortgage with defaulted student loans in the process of rehabilitation...meaning I am making payments towards rehabilitation but it will not be completely rehabilitated until June 2002 after which it will be completely removed from my credit. But i want to be able to buy a house before then. I asked this question before about mortgages in general and was told that you could get a FHA or VA but what about conventional? FHA has a limit of $223,000 and I'm not sure we can find anything in our area for that price so am looking towards a conventional mortgage.
You may be able to. That will be at the underwriters discretion. If you have compensating factors and a written payment arrangement you could possibly overcome that. CF