Despite the coronavirus lockdowns, or helped by them perhaps, much of the U.S. is in the midst of a red-hot housing market. But buying a home can be challenging if you have student debt.
More than 44 million Americans collectively owe around $1.6 trillion in student loans, according to Federal Reserve and New York Federal Reserve data. With mortgage lenders increasingly tightening their lending standards to provide more cushion against borrower default, buying a home could be more difficult for many student-loan holders.
Here are some strategies that could help people who are carrying student-loan debt qualify for a mortgage.
1. Improve your debt-to-income ratio
When mortgage lenders evaluate borrowers, they look at two debt-to-income rat…
Read the full article at: https://www.wsj.com/articles/what-to-do-if-your-student-loans-makes-it-hard-to-get-a-mortgage-11601631001
