Did you know? A recent study found that 72% of individuals with student loans believe their debt will delay their ability to buy a home. If you’re in that group, you might be asking yourself:

Do I need to pay off my student loans before I can purchase my first home? Or is there a way to qualify for a mortgage even with that debt hanging over me? These are common and valid questions, especially when taking such a significant financial step. The encouraging news? You might be closer to homeownership than you think.

Can You Qualify for a Mortgage with Student Loans?

In short, yes — it is very possible to buy your first home even if you have student debt. According to Yahoo Finance:

" . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, buying a house when you have student loans is possible."

And the stats support this. The National Association of Realtors (NAR) reports that 32% of first-time buyers had student loan debt (see graph below):

This shows that you're not alone — and more importantly, that others in similar financial situations have successfully navigated the path to homeownership. Your journey might feel daunting, but the goal may be more achievable than you imagined.

To provide further reassurance, consider this: the median student loan debt among buyers was $30,000. An article from Chase notes:

“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt you have on your credit report, such as credit card debt and auto loans.”

So, if you have a steady income and a solid financial foundation, your student loans don’t have to stand in your way. Lenders look at your entire financial picture, and many borrowers with student debt still meet the requirements for a home loan.

Bottom Line

Having student loans doesn’t automatically disqualify you from buying a home. Rather than assume you're not ready, consider speaking with a trusted lender to understand what’s truly possible for your situation. You might be surprised by how close you are to achieving your dream of owning a home.

If you have any questions or want to explore your options further, don’t hesitate to reach out to Mike Panza and the team at Panza Home Group. They’re here to help you take the next step with clarity and confidence. Learn more or contact the team directly here: https://panzarealestate.com/team/mike-panza