--- title: "Student Loan Debt: Can You Still Afford a Home?" description: While it is true that student loan debt impacts many parts of your life, it does not entirely impact your choice to obtain a mortgage. You may be wondering, how exactly do student loans affect the mortgage process? On the downside, the more loans that you have, the harder it may be to afford a home. 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[Brianna](https://info.carringtonmortgage.com/knowledge-base/author/brianna) [![Share on Facebook](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/facebook.png?width=24&name=facebook.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/linkedin.png?width=24&name=linkedin.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/twitter.png?width=24&name=twitter.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Student%20Loan%20Debt%3A%20Can%20You%20Still%20Afford%20a%20Home%3F) [![Share on Pinterest](https://static.hubspot.com/final/img/common/icons/social/pinterest-24x24.png)](http://pinterest.com/pin/create/button/?url=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Dpinterest&media=https%3A%2F%2Fcms.carringtonhomeloans.com%2Fhubfs%2FEHO%2Fpinterest.png) [![Share on Email](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/email.png?width=24&name=email.png)](mailto:?subject=Check%20out%20https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fstudent-loan-debt-can-you-still-afford-a-home%3Futm_medium%3Dsocial%26utm_source%3Demail) ![Student Loan Debt Article](https://info.carringtonmortgage.com/hubfs/Student%20Loan%20Debt%20Article.jpg) While it is true that student loan debt impacts many parts of your life, it does not entirely impact your choice to obtain a mortgage. According to [Student Loan Hero](https://studentloanhero.com/student-loan-debt-statistics/), 44.2 million Americans have student loan debt. You may be wondering, how exactly do student loans affect the mortgage process? On the downside, the more loans that you have, the harder it may be to afford a home. Don't worry, paying attention to these factors will increase your chances of obtaining a home: - Debt-to-income (needs to be 43% or less to be approved) - Credit score - Down payment amount These are incredibly important because they'll allow you to see how much you can afford and what mortgage loans you are eligible for. One of the best things you can do to increase your chances is to pay your bills on time - sounds simple enough right? By utilizing this very important step, it will help increase your credit score and show lenders that you are a likely candidate. Paying your bills on time accounts for a third of your credit score, so everything comes full circle when it comes down to mortgage eligibility. Remember to pay close attention to your DTI, credit score, and continue to pay your bills on time in order to up your chances of landing the home of your dreams. \*3.5% of the purchase price is required in cash from the buyer. Example: on a $200,000 purchase - 3.5% = $7,000 ## Related Articles [![Credit Issues That May Affect Your Mortgage Loan-1](https://info.carringtonmortgage.com/hubfs/Credit%20Issues%20That%20May%20Affect%20Your%20Mortgage%20Loan-1.jpg)](https://info.carringtonmortgage.com/knowledge-base/credit-issues-that-may-affect-your-mortgage-loan) [Home Loans](https://info.carringtonmortgage.com/knowledge-base/tag/home-loans) [Mortgage Payment](https://info.carringtonmortgage.com/knowledge-base/tag/mortgage-payment) [Homeowner](https://info.carringtonmortgage.com/knowledge-base/tag/homeowner) [Credit Score](https://info.carringtonmortgage.com/knowledge-base/tag/credit-score) ### [Credit Issues That May Affect Your Mortgage Loan](https://info.carringtonmortgage.com/knowledge-base/credit-issues-that-may-affect-your-mortgage-loan) No doubt about it, applying for a mortgage can be a long and involved process that can leave you feeling drained and financially exposed. But it’s in your best interest... 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