Student loans have me feeling close to giving up

Student loans have me feeling close to giving upStudent loans have me feeling close to giving up
richeventyar asked 4 years ago

I’m Praying someone can give me some hope. I was planning on going with USDA until I saw the new update where they will not accept IBR. I make $ 2400 gross monthly with a $ 432 car payment. That’s my only monthly debt except for a $ 22 monthly ibr for my $ 40k of student loans which will not change unless I get over $ 10000 more income. With my IBR I was barely under the DTI ratio for a $ 90k loan. If Im required to calculate 1% of my total debt I’ll never be approved.
I’m thinking I could move to FHA if I can gather the down payment. I’ve tried researching FHA and student loans but all Ive found is that they use the 1% if the loans are deferred. Does FHA accept IBR?
I’ve read that there has to be documentation that the payment amount wont change. I wont be able tp provide that documentation because I have to requalify annualy but what I dont understand is if my income changes and my payment changes then that wouldn’t be a big deal because I would have more income to cover it and my mortgage rate wouldnt be changing.
Somebody please help me here Im really losing hope and tired of being punished for getting an education.

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