FHA First time home buyer with student loans - can I purchase?I'm a recent college grad. I am really motivated to take advantage of a down market, the $8000 first time home buyers credit, and ultimately have a potentially profitable 5 year investment.However, the caveat is I have sizeable student loans in repayment. If I understand FHA requirements correctly, this is my scenario:Monthly gross income: $3750Monthly debts: $900 ($650 in private student loans, $250 federal)Excellent creditSo my current monthly DTI ratio is about 24%... which leaves only 19% of the maximum 43% left? So I can only afford a mortgage less than $712/mo? Anyone in the Seattle area knows that leaves very few options, even looking at condos.I don't want to (morbidly) think that I can't afford a home because I went to college... In fact, as a catch-22, I wanted to use the (hopeful) profit in reselling to cut down my student loans...What should I do? Do I have options? January 27 2010 - Seattle00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.