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How to Buy a Home with Student Loans: Tips and Advice for New Graduates

How to Buy a Home with Student Loans: Tips and Advice for New Graduates

Congratulations, you’ve just graduated from college! Now the student loans are coming in. The student loan repayment process can be overwhelming and stressful for new graduates who want to buy a home but worry about student loans making it difficult to get a mortgage. But this doesn’t mean you should give up your dream of buying a home!

This blog post is going to provide some useful tips for buying a home with student loans that will help put your debt worries at ease.

Start A Budget And Embrace Using It

The first and most important step anyone with debt can take is to commit to a monthly budget. Managing your debts means living within your means. In turn, that requires careful examination of your income and expenses to ensure your debts are being paid down.

Student loans are not in the past. You must continue to pay them back, and it’s important that your budget includes student loan payments and is focused on helping you pay off student debt faster. In most cases, interest is being charged on your outstanding debt which makes the loan grow bigger over time. The faster you can pay off your student loan, the less interest you will pay on top of it, and the faster you can start saving for your home.

It’s also important to remember that student debt can affect your credit score, which means you may have to pay a higher interest rate on your mortgage.

Speak To A Financial Advisor

If this seems too overwhelming, consider getting one-on-one advice from a financial advisor or a student loan officer at your student loans provider. A financial advisor will be able to help you come up with student loan repayment strategies that are tailored to your specific needs. They can provide insight on what is the best student debt payoff strategy and how you can use investing or retirement funds to pay off student loans.

Many advisors are provided by local or state governments at no cost, so be sure to check out your local options.

Reach Out to Friends and Family

Perhaps the best student loan repayment strategy of all is to ask for help. Friends, colleagues and family members can be a great source of advice and emotional support through this tough process. Close family members may also be willing to lend a hand financially or co-sign on your mortgage to get you out of renting and into your own home. Also, be sure to check in with former college classmates who have gone on to buy homes in the area. They’ll be a great source of information.

In closing, while student loan debt can crimp one’s finances, it is no reason to delay your dream of buying a home.

To view affordable starter home options in the area, visit

For more information and free professional advice, contact our team at or 1-844-424-AQRE (2773). Our real estate advisors are available 24/7 and happy to help on your journey to becoming a homeowner!

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