$\"Don\u2019t$ \n

Did you know? According to a recent study, 72%<\/strong> of people with student loans think their debt will delay their ability to buy a home. Maybe you\u2019re one of them and you\u2019re wondering:<\/p>\n

\n
Do you have to wait until you\u2019ve paid off those loans before you can buy your first home?<\/li>\n
Or is it possible you could still qualify for a home loan even with that debt?<\/li>\n<\/ul>\n
Having questions like these is normal, especially when you\u2019re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily.<\/p>\n
Can You Qualify for a Home Loan if You Have Student Loans?<\/strong><\/h4>\n
In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here\u2019s what Yahoo Finance<\/em> says:<\/p>\n
\u201d . . . student loans don\u2019t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, <\/em>buying a house when you have student loans is possible.<\/em><\/strong>\u201c<\/em><\/p><\/blockquote>\n
And the data backs this up. An annual report<\/a> from the National Association of Realtors <\/em>(NAR), shows that 32%<\/strong> of first-time buyers had student loan debt (see graph below<\/em>):\u00a0<\/p>\n
$\"a$ <\/a>While everyone\u2019s situation is unique, your goal may be more doable than you realize. Plenty of people with student loans have been able to qualify for and buy<\/a> a home. Let that reassure you that it is still possible, even as a first-time buyer. And just in case it\u2019s helpful to know, the median student loan debt was <\/strong>$30,000<\/strong><\/a>. As an article from Chase <\/em>says:<\/p>\n
\u201c<\/em>It\u2019s important to note that student loans usually don\u2019t affect your ability to qualify for a mortgage any differently than other types of debt <\/em><\/strong>you have on your credit report, such as credit card debt and auto loans.\u201d<\/em><\/p><\/blockquote>\n
If your income is steady and your overall finances are solid, homeownership can still be within reach. So, having student loans doesn\u2019t necessarily mean you have to wait to buy a home.<\/strong><\/p>\n
Bottom Line<\/h3>\n
Having student loans doesn\u2019t mean buying a home is off the table. Before you count yourself out, talk to a lender to get a clearer picture of what you can afford and how close you are to taking the first step toward homeownership.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
Did you know? According to a recent study, 72% of people with student loans think their debt will delay their ability to buy a home. Maybe you\u2019re one of them and you\u2019re wondering: Do you have to wait until you\u2019ve paid off those loans before you can buy your first home? Or is it possible […]<\/p>\n","protected":false},"author":1,"featured_media":5689,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-5688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t