Profile picture for snooney

Would it be a good idea to get a student loan if i'm trying to get a house in two years.

I'm on a two year plan to get a house but I need a private student loan for school.  Is that a good or bad idea and why.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 18 2010 - Stockbridge
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

When you go to buy a house, the lender will look at your debt to income ratio,  If you have debt beyond your earnings, no house.  However, if you do not have an education, well - now I am starting to sound like a mom and not a realtor.  I have 2 children in college, and I tell them to take one step at a time.  You may want to chat with a lender in your area, just to see what they have to say.  Good Luck, and study hard!

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 02 2011
Profile picture for BryRob
I would avoid debt as much as you can. If you need to borrow money for school, I would not suggest buying a house.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 31 2010
Profile picture for AOHSFIRST

Get the education first. House prices are cheap and will be for another year. Bankers and Investors like educated people. You have more earning power and more opportunities with a better education. Just remember if you do get a school loan that negatively affects your debt to equity ratio. You want to watch it so it doesnt go over 30% if you need a bank loan for a home. We provide NO Banks Needed Homes In Georgia, mostly owner financed deals in Mcdonough and Stockbridge.  Banks are not making many loans these days but you can get a house without a bank loan and probably a better deal.
Mark from [link removed by Zillow moderator]

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 31 2010
I suggest that you get the education, job opportunities, and income stream that come with it before you try to purchase a home.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 18 2010
 
Related Questions
First Time Home Buyers need help please!!
Profile picture for Sam Shueh
Latest answer by Sam Shueh
June 08 | 8 answers
credit score is 614. can i get a home?
Profile picture for Scott Berglund
Latest answer by Scott Berglund
January 18 | 9 answers
What should you expect if you buy a house for cash?
Profile picture for Karla Wagner
Latest answer by Karla Wagner
October 30 2011 | 6 answers
I'm self employed by an independent company...I don't get a w-2 but I do get a 1099. I bring home a
Profile picture for Debbie Ferrero
Latest answer by Debbie Ferrero
March 25 2011 | 4 answers
Would it be a good idea to get a student loan if i'm trying to get a house in two years.
Profile picture for Laura Fleischer
Latest answer by Laura Fleischer
January 02 2011 | 4 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 5772 Highway 42, Stockbridge, GA Home For Sale
    5772 Highway 42, Stockbridge, GA 30281

     For Sale: $40,000

    • Beds: 0
    • Sqft: --
    • Baths: --
    • Lot: --
  2. 3692 Arminto Dr, Ellenwood, GA Home For Sale
    3692 Arminto Dr, Ellenwood, GA 30294

     For Sale: $126,000

    • Beds: 4
    • Sqft: 2762
    • Baths: 4.0
    • Lot: --
  3. 207 Kensington Trce, Stockbridge, GA Home For Sale
    207 Kensington Trce, Stockbridge, GA 30281

     For Sale: $139,900

    • Beds: 4
    • Sqft: 2066
    • Baths: 2.0
    • Lot: --