Does having Student Loans Affect Buying A House?

+1 vote
asked Jul 20, 2017 in Real Estate - Renting by Zebra50 (210 points)
Does having student loan debt affect getting a mortgage and buying a house?

1 Answer

0 votes
answered Jul 20, 2017 by Serenbat (350 points)
Having a Student loan won't prevent you from getting a mortgage. That is unless you've been missing payments on the student loan. Then it would lower your credit score which would affect you getting your mortgage loan.

Having a student loan and making on time payments could actually help you get your mortgage in the future when you're ready.

A good credit score is vital to getting loans and mortgages. Always make sure you keep your credit score in a good range above 620. The higher the credit score the better.

Having a higher credit score can also mean lower interest rates on your mortgage and other loans.

And also having a high credit score could help you land a job too. Some employers look at peoples credit score when deciding to hire someone.

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