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Graduate from Renter to Buyer Despite Student Loans
This is the original article “Graduate from Renter to Buyer Despite Student Loans”. It is a great article that gives some insight to student loans and how they can affect your mortgage. And check out that Dave Your Mortgage Guy was quoted in the article.
Graduate from renter to buyer despite student loans
Debt is always a factor in whether you can qualify for a home loan. But whether student loans, in particular, present any special concerns is a matter of opinion.
An August 2012 study, "Denied? The Impact of Student Debt on the Ability to Buy a House," found student loans could be a stumbling block for recent graduates who are single or married to a spouse who also has student loans. The study was released by Young Invincibles, a policy research organization that represents young adults.
But Justin Lopatin, a private mortgage banker at PERL Mortgage in Chicago, says student loans don't "present a red flag or any alarm or nervousness." Rather, they are "just another debt obligation that's very common these days," Lopatin says.
Student-loan debt is on the rise
Either way, there's no question that student debt has been on the rise.
Recent analysis by the ... more
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