Can I buy a home with student loans?

𝘾𝙖𝙣 𝙄 𝙗𝙪𝙮 𝙖 𝙝𝙤𝙢𝙚 𝙬𝙞𝙩𝙝 𝙨𝙩𝙪𝙙𝙚𝙣𝙩 𝙡𝙤𝙖𝙣𝙨?

Yes! You can still buy a home with student loan debt. However, here are a few things to keep in mind.

𝘿𝙚𝙗𝙩-𝙩𝙤-𝙄𝙣𝙘𝙤𝙢𝙚 𝙍𝙖𝙩𝙞𝙤

DTI is your total monthly debt payments — such as student loan payments, car payments, credit card payments, etc. — divided by your gross monthly income. Mortgage lenders like to see a DTI around 43% or less

𝙎𝙖𝙫𝙞𝙣𝙜 𝙛𝙤𝙧 𝙖 𝙙𝙤𝙬𝙣 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 𝙢𝙞𝙜𝙝𝙩 𝙗𝙚 𝙙𝙞𝙛𝙛𝙞𝙘𝙪𝙡𝙩

If you are spending a few hundred dollars each month on student loan payments, you may be unable to save enough money for a down payment.

𝙎𝙩𝙪𝙙𝙚𝙣𝙩 𝙡𝙤𝙖𝙣𝙨 𝙘𝙖𝙣 𝙝𝙚𝙡𝙥 𝙮𝙤𝙪𝙧 𝙘𝙧𝙚𝙙𝙞𝙩 𝙨𝙘𝙤𝙧𝙚

our payment history is around 35% of your credit score, which means that a lengthy history of on-schedule debt payments is necessary. If you make your student loan payments on time every month, this should improve your score.

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