Buying a Home With Student Loans? Yes, It’s Possible

At RichEstates.Homes, we believe homeownership in Virginia should be within reach—even if you’re still paying off student loans. Many first-time buyers think their student debt will hold them back. But here’s the truth: you can buy a home with student loans, and with the right strategy, we’ll help you make it happen.

Can You Get Approved for a Mortgage With Student Loans?

Yes—you can.
Every day, buyers with $30,000–$100,000 in student loans are approved for mortgages. Lenders look at your whole financial picture, not just your student loan balance.

The key factors they review are:

• Your monthly income

• Your credit score

• Your debt-to-income ratio (DTI)

• Your employment history

👉 As long as your debt is manageable and your income is steady, student loans don’t have to stop you from becoming a homeowner.

Understanding Your Debt-to-Income Ratio (DTI)

Your DTI ratio compares your total monthly debt (student loans, car loans, credit cards, etc.) to your gross monthly income.

• Most lenders prefer a DTI under 36%

• Some allow up to 43%+, depending on credit strength

💡 Pro Tip: Use Zillow’s free DTI Calculator or let us walk you through it.

How Student Loans Impact Your Credit Score

If you’re paying your student loans on time, they can actually help build your credit history. A stronger credit score means better mortgage terms.

• Higher score = Lower interest rate

• Even a 10–20 point increase can reduce your monthly mortgage payment

This is why staying current on your loans is so important before applying for a mortgage.

Saving for a Down Payment (Even With Student Loans)

Here’s the good news: you don’t need 20% down to buy a home.
First-time buyers in Virginia have multiple low down payment options, including:

• FHA loans – As little as 3.5% down

• Conventional loans – Some allow 3% down

• Virginia first-time homebuyer programs – Many offer grants or down payment assistance

👉 At RichEstates.Homes, we’ll help you explore programs designed to lower upfront costs.

5 Smart Tips for Buying a Home With Student Debt

1. Get pre-qualified to understand your budget before house hunting

2. Pay down smaller debts like credit cards or auto loans

3. Look into income-driven repayment (IDR) to lower student loan payments and improve your DTI

4. Check your credit report and fix errors that may drag down your score

5. Talk to a mortgage expert who understands student loan guidelines

Are You Ready to Buy a Home in Virginia?

Ask yourself these key questions:

• Can I afford both a mortgage and student loan payments?

• Is my job steady and income reliable?

• Do I have funds for a down payment (or access to assistance programs)?

• Are my student loans in good standing (no late payments)?

If you answered yes to most of these, you may be closer to buying a home than you think.

Take the Next Step With RichEstates.Homes

At RichEstates.Homes, we specialize in guiding Virginia first-time homebuyers through the process—even with student loans. We partner with trusted lenders who offer flexible loan options to fit your financial situation.

👉 Contact us today for a free, no-pressure consultation.
👉 Browse Virginia homes that fit your budget right now.

You Don’t Have to Wait

Student loans shouldn’t hold you back from building wealth through real estate. With the right loan program, the right plan, and the right team—you can make homeownership a reality.

At RichEstates.Homes, we’re here to help you take that step confidently and as always "Luxury is defined by the experience - not by price."