I have a hefty sum in student loans but this makes me wonder.
If your student loans are that impactful wouldn't your debt/income ratio make getting a home loan difficult? Wouldn't the down payment on the house be better spent paying down the student loans?
Edit: I am getting a lot of messages saying that banks ignore your student loans. I might want to talk to a a different financial advisor because in the last conversation I had I was told I needed to pay off n% of my current loan before I would be eligible. I have an >800 credit score and my only debt is student loans and a credit card that the balance gets payed every month. If anyone knows what finance magic words I need shoot me a DM.
ohno on March 22nd, 2021 at 17:02 UTC »
There may have been other factors that led to this. Did you also give up avocado toast during this period?
theorecks on March 22nd, 2021 at 17:13 UTC »
This one trick saved him thousands. Student loan companies hate him! Number 7 will shock you!
Syreus on March 22nd, 2021 at 19:44 UTC »
I have a hefty sum in student loans but this makes me wonder.
If your student loans are that impactful wouldn't your debt/income ratio make getting a home loan difficult? Wouldn't the down payment on the house be better spent paying down the student loans?
Edit: I am getting a lot of messages saying that banks ignore your student loans. I might want to talk to a a different financial advisor because in the last conversation I had I was told I needed to pay off n% of my current loan before I would be eligible. I have an >800 credit score and my only debt is student loans and a credit card that the balance gets payed every month. If anyone knows what finance magic words I need shoot me a DM.