Buying a Home with Student Loan Debt: You’re Not Alone
At Corken + Company, we believe that real estate is more than a transaction—it’s a long-term investment in your future. And for many aspiring homeowners, student loans can feel like a major roadblock. But here’s the truth: you can still buy a home, even with student debt.
With the right strategy, the right team, and the right perspective, homeownership is within reach—even if you’re carrying a balance from your college days.
📊 What the Data Says
Over 44 million Americans have student loan debt. So, if you’re wondering whether you’re the only one navigating this while dreaming of homeownership, you’re not. In fact, many of our clients in Colorado and beyond are balancing both—and succeeding.
What matters most to lenders is how you manage your debt, not just that you have it.
💡 How Lenders View Student Loans
When you apply for a mortgage, your student loans will show up on your credit report—but that doesn’t automatically disqualify you.
Here’s what lenders typically focus on:
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Your credit score
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Your debt-to-income (DTI) ratio
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Your payment history
Even if you’re on an income-driven repayment plan, lenders will use the amount shown on your credit report or a calculated percentage of the balance to determine your DTI. That’s why working with a knowledgeable real estate advisor and loan officer is critical—they can help you understand what adjustments or preparations are needed.
🔎 Understanding Your Options
If student loans are part of your financial picture, here are a few steps that can help you move toward homeownership with confidence:
1. Know Your Numbers
Start with your credit report and loan balances. Understand what you owe and how it affects your monthly financial obligations.
2. Focus on Reducing Your DTI
Paying down smaller debts, consolidating loans, or increasing your income can help improve your debt-to-income ratio—a key factor in mortgage approval.
3. Get Pre-Approved Early
A pre-approval gives you a realistic sense of your budget. It also helps identify any obstacles early so they can be addressed with your lending team before you’re ready to make an offer.
4. Explore First-Time Buyer Programs
Many buyers with student debt benefit from first-time homebuyer programs that offer low down payments or more lenient credit requirements. Our team can connect you with a lender that matches your specific needs.
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Why It’s Still a Good Time to Buy
Rising rents and limited housing supply are pushing more people to consider homeownership sooner than later. Owning a home means building equity, having predictable monthly payments, and gaining control over your living situation.
At Corken + Company, we specialize in helping clients navigate the challenges—and celebrate the wins—of real estate. Whether you’re looking in Lone Tree, Greenwood Village, Castle Rock, or across the Denver Metro, our team offers the guidance and experience to help you move forward, student loans and all.
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Let’s Talk Strategy
We’ve helped countless buyers overcome obstacles and purchase homes they love—even with student loan debt. Your financial picture doesn’t have to be perfect. You just need a plan, a little patience, and the right support team behind you.
Let’s turn your real estate goals into reality.
📞 Call us today at 303-858-8003 or visit www.corken.co to connect with a broker who understands your journey.
