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You Can Still Buy a Home Even With Student Loans

  • grace264
  • May 15
  • 2 min read


According to a recent survey, 72% of respondents with student loans said their debt is delaying their ability to buy a home.Are you facing the same concern?Do you feel like you have to wait until your loans are paid off to buy your first home?Or are you unsure whether having student loans will block you from getting mortgage approval?

These are natural questions—buying a home is one of the biggest financial decisions you’ll ever make. But waiting too long because of uncertainty could cause you to miss valuable opportunities.


Can You Qualify for a Mortgage If You Have Student Loans?

The answer is yes—having student loans does not automatically prevent you from buying a home.

According to Yahoo Finance, student debt doesn’t have to be a roadblock if you understand your financial picture and choose the right approach. In fact, the National Association of Realtors (NAR) reports that 32% of first-time homebuyers had student loan debt when they purchased their homes. Their average loan balance? About $30,000.

Chase Bank adds that student loans are just one form of debt on your credit report—like a car loan or credit card balance. What matters most to lenders is your income stability and overall financial health. If you have a steady job and manage your debt responsibly, student loans don’t have to stand in your way.


What About the Chicago and Illinois Market?

In both 2024 and early 2025, the Chicago metro area and surrounding suburbs (especially DuPage, Cook, and Lake County) have seen a steady rise in home inventory along with moderate price appreciation.This means more listings to choose from and greater room for negotiation—especially helpful for first-time buyers.

At the same time, more homebuyer assistance programs are available than ever before. From city-level to statewide support, there are grants for down paymentsinterest rate buy-downs, and other incentives designed to help buyers—especially those managing student loan debt.


Bottom Line

Having student loans is not a reason to give up on your dream of homeownership.Start by speaking with a professional who can assess your specific financial picture. Often, the fear of the unknown holds us back more than the numbers themselves.

Before you assume “I’m not ready,” let’s look at your options together.Hans Han at Chicago BDB is here to help you take that first confident step toward owning your home.

📞 773-717-2227 | 📧 ChicagoBDB@gmail.com



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