Dec

30

$150,000 in student loans. Will I ever be able to get a mortgage loan?

Filed Under Renting & Real Estate 

Amber J asked:


I went to a very expensive college for 5 years. I haven’t graduated yet since I’m working on my PhD. My loans aren’t due for another 2 years at least. I have $150,000 in student loans, some credit cards, and me and my fiance each have a car loan. Do we have any hope of getting a mortgage loan to buy a house?

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Comments

4 Responses to “$150,000 in student loans. Will I ever be able to get a mortgage loan?”

  1. Caffeinated Content on January 1st, 2009 1:11 pm

    Mortgage Loans

    Depends on your debt to income ratio…if the ratio of monthly living expenses exceeds the income by 40%, then it is unlikely that you qualify for a cheaper loan…you may still get a loan if you have alot of equity to invest in a new hse etc…..also, the struture of ur student loans is important…if pymts are deferred that can work in your favor ………..

  2. Create a video blog on January 2nd, 2009 4:49 pm

    Create a video blog

    Fat chance……….

    Too many debts…..your score would be very low

  3. Caffeinated Content for WordPress on January 4th, 2009 2:01 pm

    Caffeinated Content for WordPress

    Yes. It is easier than you think to get a home loan to buy a house.

  4. Website content on January 6th, 2009 12:59 pm

    Caffeinated Content

    Hello -

    Yes you have a chance of getting a home loan. May I make a suggestion, why not begin to put in place a financial strategy using what would be your largest financial asset, a new home purchase.

    I’m supplying you a link to what is called a Velocity of Money calculator. This will allow you to calculate for yourself, how your new home will allow you to begin to payoff your student loans, via appreciation and tax write offs.

    Here is that link -

    In regards to some basic information on home loans and how to qualify, please visit this FREE website -

    If you have any further questions, please feel free to shoot mean email.

    Best Regards,
    Darren Meade

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