Will Student Loan Debt Prevent You from Buying in Northern Virginia?

I’ve had a few people ask me whether or not having student loan debt will hurt their chances of getting approved for a mortgage loan when buying a home. The answer is ‘maybe’. I say this because the amount of your total debt doesn’t matter so much. It’s the ratio of your debt to your total income that makes the biggest difference.
My advice to those with student loan debt is to speak with a few different lenders. Your situation will vary, and different programs may be more suited to your situation. If you cannot qualify for a loan, nobody will find out, so don't let lack of confidence hold you back. This is a confidential meeting between you and the lender.

So, please give us a call and we can refer you to some of the best lenders in Northern Virginia. Just recently, one of our lenders said that he can qualify someone with a score as low as 580. Our lenders may also be able to help you improve your credit score by making a few small changes in your finances.

Please don’t hesitate to contact us with any questions!