Boca Mortgage Blog

How Will Student Loans Affect Your Mortgage Approval?

June 24th, 2014 3:40 PM by Leonard Silvestri


                   


 Going to college is imperative for job security and your own personal knowledge, but it can be costly. Many people struggle with student loan debt well after they graduate, and it can hamper other areas of their life, namely mortgage approvals. The following article discusses this problem and suggest ways of dealing with student loan debt.

If you can consolidate your student loans or refinance them into a longer repayment term, you may be able to reduce the size of your monthly payments, which will make it easier to qualify for a mortgage. Better yet, pay off your student loan as quickly as possible by reducing other expenses and paying more than the minimum payment.

Posted in:General
Posted by Leonard Silvestri on June 24th, 2014 3:40 PM

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