Keeping Current Matters May 15, 2025
Buyer
Did you know? According to a recent study, 72% of people with student loans think their debt will delay their ability to buy a home. Maybe you’re one of them and you're wondering:
Having questions like these is normal, especially when you’re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily.
In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here’s what Yahoo Finance says:
" . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, buying a house when you have student loans is possible."
And the data backs this up. An annual report from the National Association of Realtors (NAR), shows that 32% of first-time buyers had student loan debt (see graph below):
While everyone’s situation is unique, your goal may be more doable than you realize. Plenty of people with student loans have been able to qualify for and buy a home. Let that reassure you that it is still possible, even as a first-time buyer. And just in case it’s helpful to know, the median student loan debt was $30,000. As an article from Chase says:
“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt you have on your credit report, such as credit card debt and auto loans.”
If your income is steady and your overall finances are solid, homeownership can still be within reach. So, having student loans doesn’t necessarily mean you have to wait to buy a home.
Having student loans doesn’t mean buying a home is off the table. Before you count yourself out, talk to a lender to get a clearer picture of what you can afford and how close you are to taking the first step toward homeownership.
Stay up to date on the latest real estate trends.
Seller
June 30, 2025
Here’s something you need to know.
Buyer
June 29, 2025
We’ve officially reached the dog days of summer, and it’s not just you panting for relief.
Buyer
June 29, 2025
When choosing a fresh coat of paint for your space, picking the perfect color can feel like the most daunting task.
Buyer
June 29, 2025
If you're tired of seeing plain white walls and neutral interiors, then you'll be pleased to know that deeper jewel tones are trending again.
Lifestyle
June 28, 2025
Peppers add color, crunch, and a kick of flavor to everything from fajitas to fresh salads, but these heat‑lovers thrive when surrounded by the right garden friends.
Lifestyle
June 28, 2025
While each family parents their children differently, the one strategy seemingly every parent executes on is baby-proofing their space when their little ones start cra… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today