will my student loan debt prevent me from getting a mortgage?

Hi. The answer depends on your total debt load. Assuming you have a good pay history on the student loan, the only impact it will have is the minimum monthly payment and how it factors into your total debt to income ratio ("DTI"). If you would like to call me, we can discuss further and I can give you an idea of how much house you can afford, with and without the student loan. Gil Barteau 214-360-9991.

Lenders don't necessarily take into consideration your TOTAL Debt, but rather the monthly payments associated with the debt, when determining your qualifying ratios.. so long as you can afford the housing payment and all your other monthly obligations and still be within the industry accepted Debt To Income (DTI) ratios, you should be fine.. you would still need to meet all other eligibility requirements, so it's best you sit down with a local mortgage broker and let him look at your complete loan scenario.. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

As others are saying, it is the monthly payment that matters. It won't necessarily keep you from buying but it could reduce the amount you an borrow, just depends on the details of your application AND what you are comfortable paying.

They will count the monthly student loan payment against you along with any other payments that show on your credit report. So it will just depend on what your total debts are compared to your income and to the new housing payment. The best thing to do, is to contact a local lender, share your information with them and have them present you with all of your available options. Best wishes, Sean