If you’re carrying student loans and wondering whether homeownership is still within reach — the answer is yes.
As a local mortgage advisor here in Northern Virginia, I work with buyers every day who assume their student debt will hold them back. The reality? With the right strategy, you can absolutely qualify for a mortgage, even with significant loan balances.
▶️ Watch the Video
For a quick overview, check out this short video on YouTube:
Can You Buy a Home With Student Loans? Yes, Here’s How
How Lenders View Student Loans
Lenders don’t focus on the total amount you owe — they focus on your monthly student loan payment and how that affects your debt-to-income ratio (DTI). That ratio compares your total monthly debts (including your future mortgage) to your gross monthly income.
Different loan programs have different DTI limits — but most fall between 43% and 50%. If your student loan payments are manageable in that context, you can absolutely qualify.
Pro Tip: Use Income-Driven Repayment to Lower Your DTI
If you’re on an income-driven repayment (IDR) plan, your actual monthly payment — not the standard amount — is what we typically use to calculate your DTI. This can make a huge difference when qualifying.
Best Mortgage Options for Borrowers with Student Loans
• FHA Loans: These are flexible on credit scores and allow higher DTI ratios. FHA may use a calculated payment if no payment is showing on your credit report.
• Conventional Loans (Fannie Mae): These allow us to use your actual IBR payment, even if it’s $0 — as long as that’s what appears on your credit report.
• VA Loans: If you’re a qualifying veteran or active-duty service member, VA loans offer incredible flexibility on student debt, sometimes even excluding it entirely from the DTI calculation.
What This Means for Homebuyers in Northern Virginia
In our market — where home prices and cost of living are higher than average — qualifying can be tight. But with proper planning and the right loan structure, I’ve helped many buyers with student debt get into homes across Arlington, Alexandria, Fairfax, and beyond.
How to Strengthen Your Application
✅ Check your credit score and clean up any errors
✅ Consider income-based repayment plans for student loans
✅ Work with a local lender who can guide you through your best options
Let’s Build a Plan Together
Even if you’re a year away from buying, let’s talk now. I’ll help you understand exactly where you stand, how to strengthen your profile, and what loan programs may work best for your situation.
Start your application: HERE
Schedule a strategy call with me: HERE
Written by John Pyne, SVP Regional Manager and Mortgage Advisor based in Northern Virginia. Specializing in first-time buyers, VA loans, and strategic financing for professionals with student debt.