Don’t Let Student Loans Delay Your First Home

Can You Buy a Home If You Have Student Loans? Here’s the Truth

If you’ve got student loans and dreams of owning a home, you’re not alone—and you’re not out of luck either. According to a recent study, 72% of people with student debt believe it’ll delay their ability to buy a home. Maybe that sounds familiar.

The real question is: do you really have to wait?

Let’s break it down.

Buying a Home with Student Loans: Is It Possible?

Short answer—yes, it’s possible. Having student loans doesn’t automatically disqualify you from buying a home. In fact, plenty of first-time buyers carry student debt and still make homeownership happen.

Yahoo Finance puts it clearly:

“. . . 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 numbers back it up. According to the National Association of Realtors, about 32% of recent first-time buyers had student loan debt. The median amount? Around $30,000. So if your number’s in that range, you’re not alone—and you’re not out of the running.

It’s About the Big Picture

Student loans are just one part of your financial profile. As Chase explains:

“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.”

In other words, what matters more is your income, credit history, debt-to-income ratio, and savings. If those areas are in good shape, there’s a very real chance you can qualify for a loan—even with student debt.

Bottom Line

You don’t have to be debt-free to become a homeowner. If you’ve been putting off your homeownership goals because of student loans, it might be time to take a closer look at your options.

Before you count yourself out, talk to a trusted local lender. And if you want helpful buyer tips, resources, and answers to common concerns, visit buywithamber.pillarrealestate.com. I'm here to help you move forward with confidence.