Buying A House With Student Loan Debt at Buying

Buying A House With Student Loan Debt. Can you buy a house with student loan debt? Do student loans affect buying a home?

Student loan debt is rising at a troubling rate. Student loans affect your ability to get a mortgage, but no different from other debt types, including car loans and credit card debt. Though you would want to repay $10,000 in credit card debt as soon as possible, $10,000 in student loan debt is typically not so bad to pay off at the minimum payment rate in order to free up some funds for buying a home.

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How student loans affect getting a mortgage. As mortgage advisor ivan simental said in a recent episode of the mortgage reports podcast, “you absolutely can buy a house with student loan debt.” Total student debt owed now tops $1.5 trillion, more than double what it was a decade ago. Sadly yes, student loan debt can possibly affect your journey to homeownership.