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6 Ways To Buy A Home Without Paying Off Your Student Loans
 
 
Don't Overlook Ways In Which You Might Be Approved
 
You’ve earned your degree and are working to build your career. You feel your next step is to buy a home. There’s just one challenge. The student loans that helped you get here might make it more difficult to qualify for a mortgage. Difficult, maybe, but not impossible.
 
All mortgage programs today have built-in provisions for applicants with deferred student loans as well as loans in repayment. Recent, and not-so-recent, graduates with student debt can follow a set of guidelines to improve their chances mortgage approval at low interest rates.
 
Are You Underestimating Your Home Buying Ability?
 
A recent study by the National Association of REALTORS® and the nonprofit organization American Student Assistance revealed that 71% of student loan holders say their student debt will delay homeownership.
 
More than half said it would sideline home-buying efforts for more than five years. The perception is real. But are these self-assessments accurate? Maybe not. Student loans can impact your loan approval status, but perhaps not in the way you think. The amount you owe isn't as important as your total monthly student loan payment, or the estimate thereof. That’s because lenders will use your debt-to-income (DTI), in part, to ... more

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