This is one of the common questions we answer rather frequently from our readers, especially grad students who are just beginning their careers, and are ready to buy a house and not rent.
Q: Is it possible to quality for a mortgage when I still have outstanding student loans ?
A: Yes, it is possible to get approved for a mortgage with student loan debt — in fact, it might even be easier to secure a mortgage because you have already established a credit history with your student loans, said Brendan Coughlin, head of consumer lending at Citizens Bank.
Hopefully, you’ve been regular with your student loan payments to keep your credit score as high as possible, which will reflect favorably on your mortgage rate and application process. A bad credit score, whether related to missed student loan payments or otherwise, can make it harder to secure a mortgage, at least at an affordable interest rate.