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How Will Your Student Loan Affect Your Mortgage?

Posted onFebruary 05/2016By

There’s a growing concern in recent years about the increasing number of people who are graduating from post-secondary education and finding themselves drowning in student debt. Whether it’s a person earning a general baccalaureate degree or someone graduating from a professional program and entering a lucrative field of work, crushing student debts are following people around for decades after they’ve finished school. Getting the right education to suit your skills and prospects is invaluable, but tens or even hundreds of thousands of dollars of student debt can really hold you back, especially when coupled with academic inflation and a scarcity of jobs. But the fact is that many people have student debt and they can still become homeowners. This article will detail how your student loan can affect your mortgage. Analyzing Debt: The Percentage of your Monthly Wage that Pays off your Debts Obviously, the best case scenario when applying…

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