Does having student loans impact your ability to get a mortgage?

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Yes but not nearly as much as prior(Biden made some sort of legislation change). I can’t recall the percentage- but based on your minimum payment- that is factored into your debt to income ratio. Let’s say you have 30000 loan - before they would assume like 400 a month (now they will factor only 200 a month) which frees up extra money to get a larger loan or help potentially qualify for a loan)

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This was a major hurdle to first time home buyers.. and why you saw so many new purchases these past couple of years

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Additional Posts in Student Loans

In a perfect world how much would you want to make a year to both pay off your loans and live a good life? I think I'd need to make upwards of $200k to pay off my loans, take care of my family and live a fulfilling life.

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If you didn't have to pay off any more of your student loans what would you use the money for instead? I'm stuck between something impractical like a trip somewhere or something I need like a new car lol

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Can grad students get $20k forgiven if they got Pell in undergrad but outstaning loans are only for grad school?

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LCSW 50k loan repayment- Has anyone been granted a contract through the National Health Service Corps Loan Repayment Program? I’m interested in applying for the 2 years of full time work as an LCSW but my loans are a bit under 50k so I’m wondering if they would only give me what I need to clear my loans or would I still get 50k as long as I complete my contract ?

Not mad that student loans being paused means I can use the money for Christmas. Are you still making payments during the pause? Or are you saving the money for something else. My christmas present to myself is a spa day!

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Damn LIBOR rate up again...

Curious to know how much your student loans were when you graduated from your program, how much you’ve paid off so far, and your age. If you have any varying factors too, like kids, income range, etc. Just trying to see if I’m on track or slacking in life. I am 34 yo, i graduated with 95k in student loans, i currently have 85k left and i make 85k in come. I’m also a single mom with two kids. Just praying for 100% student loans forgiveness. Wishful thinking???

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