Don’t Let Student Loans Delay Your Homeownership Dreams
According to data from NAR, “When asked specifically about purchasing a home, half of nonhomeowners say student loan debt is delaying them from purchasing a home (51%).”
In the same NAR report, data shows many current homeowners have student loan debt themselves. “Nearly one-quarter of all home buyers, and 37% of first-time buyers, had student debt, with a typical amount of $30,000.”
That means other people in a similar situation were able to qualify for and buy a home even though they also had student loan debt. You may be able to do the same, especially if you have a steady source of income. Apartment Therapy drives this point home. “. . . buying a home with student loans is possible, experts say. The proof is in the numbers, too: Some 40 percent of first-time homebuyers have student loan debt, according to the NAR study.”
The key takeaway is, for many people, homeownership is achievable even with student loans. The best way to make a decision about your goals and next steps is to talk to the professionals. A real estate advisor can walk your through your specific situation, your options, and what has worked for other buyers like you. They can also connect you with other professionals in the industry who can help. You don’t have to figure this out on your own – lean on the experts so you have the information you need to make an informed, confident decision. DM me to discuss your options and find out how close you are to achieving your goal.
Comments
Post a Comment