How to Purchase a Home with High Levels of Student Loan Debt

If you're carrying a heavy load of student debt, you might think buying your home is out of reach. But that's not necessarily the case. I'd like to share some good news on how you can still purchase a home despite high student loan debt.
Firstly, remember that the size of your student debt doesn't necessarily damage your credit score. Credit cards impact your credit score more than your student loans, especially if you're keeping up with your student loan payments.
Being on the right repayment plan for your student loans helps when it comes to your Debt-to-Income (DTI) ratio. This ratio can influence your ability to get a mortgage. Plus, being on the right plan can also free up some of your income, which can help you save for a down payment on a house.
Speaking of down payments, did you know they can be as low as 4 - 4.5%? That includes closing costs, moving expenses, and other costs associated with buying a home.
So, even with a large amount of student debt, keep pursuing your dream of owning a home. For more information on this, make sure to watch the video above. Remember, carrying student debt doesn't mean you can't start building equity in a home now.


"I have worked with a good number of lenders personally and professionally over the years, and our experience with Walt and his team was by far the best experience I have had. For the refinance of our home mortgage, I had obtained quotes from other lender relationships, but no one could commit to closing any faster than 45 days. And, no one beat Waterstone Mortgage's fees and rates. Walt committed to closing within 30 days, and his team delivered: Walt spent the time needed to understand our needs and recommend loan options to meet those needs (and the options exceeded our expectations); Mayra pleasantly and efficiently walked us through the application process; and Ann worked closely with us to expeditiously move through underwriting to closing. All in roughly 3.5 weeks. They communicated with my wife and me effectively throughout the process so that there were no surprises. In addition to our genuine appreciation for the speed and results of their services through closing, we are also grateful that we can continue to turn to them as our primary contact over the life of the loan. We could not have asked for a better experience and would recommend Walt and his team at Waterstone without hesitation."

brian moore

"We used Walt and his team when we purchased our new home in Salem. We had a short close, but it was no problem for them. They were very responsive and were available when we called. We were very impressed with their professionalism and we appreciated Walt meeting with us for the Discovery Consultation. This was a great opportunity to ask questions and learn more about the process. We highly recommend Walt and his team!"


"Walt and his team are an actual delight to work with! At the beginning of my process I was disappointed with a lender, switched to Walt and holy smokes he exceeded my expectations right off the bat! He brought me to the office and laid out everything that was going to happen and multiple options to go about it. Everything was step by step, as a first time homebuyer your have many questions and he is well aware of that. He closed my house in 30 days and got me great rates! He responded in a timely manner to every question I had and I couldnt of been luckier to have such a informative, supportive and professional team to help me through this crazy process. I have to give a huge thank you to Walt and Lenda from the very bottom of my heart!"

katie braff