Zillow Advice: Mortgage - First time homebuyer and student debt http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ Zillow Advice | Zillow Real Estate Work the numbers with a lender ... http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ Work the numbers with a <a href="http://www.zillow.com/directory/lenders/">lender</a> you trust (as Tiffany said).&nbsp; Student <a href="http://www.zillow.com/mortgage-rates/">loan</a> payments and how long you have to prove deferment vary depending on program.<br/><br/>Before any lender will tell you what you qualify for make sure you know your comfort range for a payment.&nbsp; Payment should be slightly less than what you are paying in rent + what you are consistently saving every month.&nbsp; <br/><br/>Good luck.&nbsp; This is a great time of year to plan and get ready to buy.<br/><br/>Also needed will be condo dues and property taxes. Fri, 16 Dec 2011 01:23:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ 2011-12-16T01:23:00Z Thanks for the response. ... http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ Thanks for the response. Suppose annual income is $69K, down payment amount&nbsp;up to $50K, and price range is $250-350K for a condo.&nbsp;&nbsp;<br/><br/>May also&nbsp;be interested in&nbsp;owner-occupied&nbsp;duplex/triplex if financing is available given my stats.<br/><br/>&nbsp;&nbsp; Thu, 15 Dec 2011 23:19:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ 2011-12-15T23:19:00Z As Bob said, you need to ... http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ As Bob said, you need to post more information for anyone to give you a complete answer.<br/><br/>What is your annual income?<br/>How much do you have for a downpayment?<br/>What price range are you looking in and what type of home are you interested in? Thu, 15 Dec 2011 23:01:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ 2011-12-15T23:01:00Z Obviously any lender will ... http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ <p>Obviously any <a href="http://www.zillow.com/directory/lenders/">lender</a> will need a lot more details to really tell you what you can or cannot do right now.&nbsp; However to answer your question about student <a href="http://www.zillow.com/mortgage-rates/">loan</a> debt, conventional <a href="http://www.zillow.com/directory/lenders/">lenders</a> will count the payment against you.&nbsp; If no payment is indicated you will have to probably go to US Department of Education and do a consolidation worksheet to come up with the payments.&nbsp; FHA by contrast will not count the payments against you if you can show that the payments are not scheduled to begin for the next 12 months.</p><p>Your credit score would be fine for FHA, but right on the edge for conventional &ndash; especially with a small down payment.</p> Thu, 15 Dec 2011 22:13:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ 2011-12-15T22:13:00Z Jeff's answer won't help ... http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ <p>Jeff's answer won't help you. You need to speak with a lender, and they will need more information. How long is left on your car note, what your income is, price range for homes, any other outstanding debt, etc. It will be in your best interest to get your score higher. They may also need to know the approximate payment on your <a href="http://www.zillow.com/mortgage-rates/">loans</a>, but how that is handled may change as lending standards seem to move around quite a bit these days.<br/><br/>I would find a <a href="http://www.zillow.com/directory/lenders/">lender</a> you trust now, and plan on what you can afford and what you need to do to get ready.</p> Thu, 15 Dec 2011 21:43:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ 2011-12-15T21:43:00Z It sounds like you should ... http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ <p>It sounds like you should qualify easily for a mortgage.&nbsp; You should find a good <a href="http://www.zillow.com/mortgage-rates/">mortgage</a> broker.&nbsp; They represent many sources of loans.&nbsp; If you would like a referral to a great broker send me an e-mail... BTW... I am in Los Angeles.. you should find a local mortgage broker.<br/><br/></p> Thu, 15 Dec 2011 21:37:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyer-and-student-debt/425922/ 2011-12-15T21:37:00Z