Did you know that 72% of people with student loans believe their debt will delay their ability to buy a home? If you’re one of them, you might be asking:
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Do I need to pay off my student loans before I can buy a house?
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Can I even qualify for a mortgage with this debt?
These are valid questions. But here’s the good news—you may not have to wait as long as you think.
Yes, You Can Buy a Home with Student Loan Debt
Student debt doesn't automatically disqualify you from homeownership. In fact, according to Yahoo Finance:
“. . . student loans don’t 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, buying a house when you have student loans is possible.”
You’re not alone in this journey. The National Association of Realtors (NAR) reports that 32% of first-time homebuyers had student loan debt. That means nearly a third of buyers made it work—and you likely can, too.
It’s Treated Like Any Other Debt
Here’s another reassuring fact: most lenders treat student loans the same way they treat credit cards or car loans. It’s not about the type of debt—it’s about your overall financial picture.
As Chase puts it:
“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt . . .”
So, if your income is stable, your debt-to-income ratio is within a healthy range, and your credit is in good shape, you could be much closer to homeownership than you think.
Take the First Step
Instead of assuming you need to wait, speak with a mortgage lender. They can help you understand your current position and what steps—if any—you need to take next.
You might be surprised to find you’re ready to move forward—or just a few tweaks away from qualifying.
Bottom Line:
Student loans don’t have to stand between you and your first home. Talk to a local expert who can help you explore your options, create a plan, and move closer to owning a home of your own.
