When you first took out your school loan, you did it to open more opportunities. Unfortunately, having a significant amount of school debt can challenge those opportunities. If you have a considerable amount of school debt and are left wondering how you can still qualify for a home loan, this article is for you!
The insights we’re about to share with you will help you get a better idea of how to manage your school loan as well as show how it’s possible to be a homeowner despite having student debt.
How Student Loans Affect Your Home Loan Approval
The first thing to clarify is that student loans themselves don’t prevent you from getting a home loan. However, the debt of student loans can affect your debt-to-income ratio, and a poor DTI can…