Can I take our student loans and a morgage at the same time?
2016-12-20 2:31 pm
So I'm a young college student. And next semester my parents agreed to help me go to school but as of today have recalled their offer due to a C. Sooooo I can't afford to pay it on my own obviously, so if I wanted to continue, I'd have to take out student loans like everyone else. This is simple enough. But to add to it all, I had plans to take out a morgage to buy this house close to my college and rent out the rooms and slowly raise the property over time. It would also be nice to have a place to live. I've saved $6000 as a down payment on a $48000 loan. I was planning to apply for this loan in January. Now it seems that I'll need to take our student loans as well appreantly. So, my question is, can I do both?
回答 (8)
2016-12-20 8:34 pm
What is your monthly income to be able to get a mortgage?
2016-12-21 12:49 am
You probably don't have sufficient credit or income to do either one. Taking out a student loan will definitely hinder your ability to get a mortgage.
2016-12-20 10:58 pm
Your mortgage will be based on your credit, deposit, and income.
If you're living off student loans, you won't be able to afford a mortgage.
If you're living off student loans, you won't be able to afford a mortgage.
2016-12-20 9:23 pm
Probably not going to be able to secure both at once unless you make a pretty substantial income.
2016-12-21 3:08 am
if you need student loans to go to school you don't have the money to buy a house
if student aid found you had money available(to buy a house) you would NOT get the aid you request
if student aid found you had money available(to buy a house) you would NOT get the aid you request
2016-12-21 1:00 am
It is a bad idea to buy a rental property while still trying to pay off student loan debt. If a few months go by and you don't have any tenants, you'll get desperate, rent the house out to anybody, and not care (until later) that they changed their Harley's motor oil on your brand new carpet.
2016-12-20 5:38 pm
Yeah, i'd just get the mortgage first though. Student loans are a special type of evil and they basically just hand them out as long as you are enrolled. Student loan may impact your ability or rate of a mortgage, but atleast for a federal loan, the mortgage wouldn't impact it.
2016-12-20 2:56 pm
If you have income to support the mortgage you can have a mortgage and student loans at the same time.
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