Student Loans and Home Loans

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READER QUESTION

Can I get a home loan with existing student loans?

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Bills.com Resident Expert
Jan 10, 2012
BILL'S ANSWER

Your total debt level, and your debt to income ratios will definitely impact your ability to obtain a loan. However, they are not the only factors.

Credit rating is a major factor in making a loan decision, and if you are able to prove that you can repay those debts, it could benefit you.

Additionally, accumulated equity or have a sizable down payment, that could provide cushion in an LTV (loan-to-value) calculation, could help to get you approved. Also, your income will be a major (possibly the most important factor) as it will determine your DTI (debt-to-income ratio). Most of all, it cannot hurt to apply and see what lenders think of your own situation.

Bills.com makes it easy to compare mortgage offers and different loan types. Please visit the loan page and find a loan that meets your needs.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com

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