How to Buy a Home in Auburn and Opelika When You Have Student Loan Debt
Posted by Rozi Dover on
Buying a home is one of the biggest financial decisions you'll make, and if you have student loan debt, you might wonder if homeownership is even possible. The good news? It absolutely is!
As a real estate agent in Auburn and Opelika, I’ve helped many buyers navigate the process, even with student loans. With the right strategy and planning, you can qualify for a mortgage and own a home—without feeling overwhelmed by debt.
1. Understand Your Debt-to-Income (DTI) Ratio
Lenders look at your debt-to-income (DTI) ratio to determine how much home you can afford. Your DTI is the percentage of your monthly income that goes toward debt payments, including student loans, car loans, and credit cards.
???? Most lenders prefer a DTI of 43% or lower.
…
136 Views, 0 Comments