Can You Qualify for a Home Loan if You Have Student Loans ?
In the same report from NAR , data shows many current homeowners have student loan debt themselves :
“ Nearly one-quarter of all home buyers , and 37 % of first-time buyers , had student debt , with a typical amount of $ 30,000 .”
That means other people in a similar situation were able to qualify for and buy a home even though they also had student loan debt . You may be able to do the same , especially if you have a steady source of income . Apartment Therapy drives this point home :
“. . . buying a home with student loans is possible , experts say . The proof is in the numbers , too : Some 40 percent of first-time homebuyers have student loan debt , according to the NAR study .”
The key takeaway is , for many people , homeownership is achievable even with student loans .
The best way to make a decision about your goals and next steps is to talk to the professionals . A real estate advisor can walk you through your specific situation , your options , and what has worked for other buyers like you .
They can also connect you with other professionals , such as a trusted lender , who can help . You don ’ t have to figure this out on your own – lean on the experts so you have the information you need to make the right decision for you .
Bottom Line
Many other buyers with student loan debt are already achieving their homeownership dreams . Maybe it ’ s time to take the next step toward making yours a reality too . Let ’ s connect to discuss your options and find out how close you are to achieving your goal .
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