Many potential buyers in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities worry that student loan debt puts homeownership out of reach—but that’s simply not true. With the right strategy and guidance, it’s absolutely possible to buy your dream home while still paying off your loans.
1. Understand Your Debt-to-Income Ratio
Lenders look at your total monthly debt versus your income to determine how much house you can afford. Student loans are just one factor. Work with a qualified lender who understands how to assess your unique situation.
2. Explore First-Time Buyer Programs
There are many loan programs designed for buyers with student debt, including lower down payments and flexible credit guidelines. I can connect you with trusted mortgage professionals who can walk you through your options.
3. Focus on What You Can Afford
You don’t need to buy your forever home right away. Start with a smart purchase that fits your budget, builds equity, and sets you up for future financial success.
4. Plan Ahead and Get Pre-Approved
Before you start touring homes, get pre-approved for a mortgage so you know what you can afford. It also strengthens your offer when you find the right property. Let’s start your buying journey.
Owning a home is possible—even with student loans. Let me help you navigate the process and find the right fit in Chicago’s North Shore communities.
Janie Bress
Your North Shore Real Estate Expert
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