*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
It's important to remember that most people have debts and loans of some sort, and millions of people throughout the world have student loans. Student loans are absolutely NOT a deal breaker when it comes to purchasing a home.
Student loan debts are a common type of loan that us loan officers see on a daily basis. Don't get me wrong, we'll calculate the student loan debt as a way to show how risky of a borrower you are, but this doesn't mean that a borrower won't be able to purchase a home if they have incurred student loans.
When you're going through the loan application process, be sure to be open about the debts that you currently have, including student loans. Make sure that you have the total amount you still owe, as well as the required monthly payment required of you, available. That way, we can calculate what is needed and update your file to show as clearly as possible as to what you qualify for.
As you are honest with the student loan debts you have, and are good at communicating with your loan officer, purchasing a home is realistic.
For more information on student loans and to see if you qualify for a home, please contact me. I'd love to help you throughout your purchasing process.
*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Brayden Ramsay NMLS #1997195
Momentum Loans NMLS #1606597
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