I’m a First Time Buyer. Will My Student Loans Hurt My Chances for a Home Loan?

by Sean Hess (Sean@StAugTeam.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com). Join us on Facebook and Google+.

I’m a first time buyer. Will my student loans hurt my chances for a loan?

If by “hurt your chances” you mean “count against your borrowing power,” then yes it will hurt you.

Your student loans will be factored in to your debt-to-income ratio, which will determine how much a bank will lend you.

Hire St. Augustine Team Realty when you go to buy or sell. Email ReQuestion@StAugTeam.com or call Broker Sean Hess at (904) 386-8327.

Student loan debt factored into his new home purchase: the real reason Bluto drank. Photo Universal Pictures.

This entry was posted on Monday, July 9th, 2012 at 1:30 am and is filed under first time buyer, First time buyer St. Augustine real estate, Will student loans hurt my chances for a home loan?. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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