Can I get a mortgage with student loan debt?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes, student loans don't disqualify you. Lenders count a monthly payment in your DTI — either your actual payment or, for deferred loans, a percentage of the balance depending on the loan program.
FHA and conventional handle student loan payment calculations differently, so the right program can lower the payment counted against you. We'll run both and pick the one that maximizes your approval.
Student loans and your approval
Student debt does not block a mortgage. Lenders just count the monthly payment in your debt ratio. Even a deferred loan gets a payment estimate assigned to it.
How the payment is figured varies by loan type. FHA, conventional, and VA each use different rules. Picking the right program can lower the payment they count against you.
Getting approved with student debt
Many Florida buyers carry student loans and still buy homes. The trick is matching your file to the friendliest program. An income-driven payment can help on some loans.
We compare your options side by side. Bring your loan statements and we will show which path leaves the most room in your budget.