Can I Get a Mortgage If I Have Student Loan Debt?
Manage episode 151887585 series 1041635
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Today we are here to talk about how student loan debt affects your affordability here in Columbus. To help us go into further detail about this topic, we have invited Noah Brader of Concord Mortgage to join us and explain.
Student loan debt is a big deal for a lot of people. Most college students have debt, and when you’ve graduated and are working to buy a home, it’s natural to wonder how it might affect your ability to purchase one. Buying a home is one of the best ways for you and your family to build wealth, so it’s an important investment to make.
As a lender, Noah is going to primarily look at your monthly payment on student loans, not the overall dollar figure that you owe. If you’re already making payments, Noah will count that in the approval scenario. If your loans are deferred, however, and you aren’t making payments now, he will ask you to log in and print out a projected payment for your loans. The bottom line is, don’t be overly concerned with the total amount, just the monthly payment.
If you have any questions for Noah, he can be reached at (740) 815-1573 or by email at noah@condordmg.com. If you have any other real estate questions, feel free to give us a call or send us an email. We look forward to hearing from you!
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