Refinancing while taking out parent plus loans

We are in the process of refinancing. Locked in our loan last Friday but was told the process could take 45-60 days since everything is backlogged. (We have a 60 day lock so that is not a problem.) However, with two in college this year, we need to take out parent plus loans. I’m hesitant to start the plus loan process while our refinance is in the works for fear it may jeopardize our loan approval. We have high FICOs, 35% equity and low debit to income ratio. Could taking out plus loans affect our refinance approval if we are deferring payments?

Yes, from general reading on nerdwallet or investopedia, I agree with your concern that PLUS loans could affect approval of your mortgage refi.
A question might be, how soon does PLUS loan show up on your credit report, affecting FICO or debt to income?
Does your mortgage refi application require you to reveal all debts, credit lines on day of closing?
I don’t think your mortgage refi lender can tell you would defer your PLUS payments; if you take a PLUS loan before the refi, a last minute credit check before closing your refi could show your PLUS loan.

@Hippobirdy - Our application didn’t ask us to report debt but they had our debt listed when they ran our credit. I know it’s not advised to take out any unusual debt, such as car loans while in process, so I tend to agree plus loans would be the same.

We will try to hold off until the last minute in hopes that we can close our refinance before getting the plus loan. I don’t know how much time ahead is needed for the plus application to be complete before the school payment is due. It will be tight.