Did you know? According to a recent study, 72% of people with student loans think their debt will delay their ability to buy a home. Maybe you’re one of them and you’re wondering:

• Do you have to wait until you’ve paid off those loans before you can buy your first home?
• Or is it possible you could still qualify for a home loan even with that debt?

Having questions like these is normal, especially when you’re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily.

Can You Qualify for a Home Loan if You Have Student Loans?

In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here’s what Yahoo Finance says:

” . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, buying a house when you have student loans is possible.“

And the data backs this up. An annual report from the National Association of Realtors (NAR), shows that 32% of first-time buyers had student loan debt (see graph below): 

While everyone’s situation is unique, your goal may be more doable than you realize. Plenty of people with student loans have been able to qualify for and buy a home. Let that reassure you that it is still possible, even as a first-time buyer. And just in case it’s helpful to know, the median student loan debt was $30,000. As an article from Chase says:

“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt you have on your credit report, such as credit card debt and auto loans.”

If your income is steady and your overall finances are solid, homeownership can still be within reach. So, having student loans doesn’t necessarily mean you have to wait to buy a home.

Bottom Line

Having student loans doesn’t mean buying a home is off the table. Before you count yourself out, talk to a lender to get a clearer picture of what you can afford and how close you are to taking the first step toward homeownership.

According to Realtor.com, the best week to list your house this year was April 13–19. And since that week has come and gone, you might be wondering: did I miss my chance? Not at all – and here’s why.

That’s just one source’s take, based on their own research. Other organizations run similar studies. And since different places use different methodologies for their research, sometimes the results vary too – and that’s actually good news for you. According to Zillow, the best time to list your house is still ahead.

The latest research from Zillow says sellers who list their homes in late May tend to see higher sale prices based on home sales from last year. The study explains why:

“Search activity typically peaks before Memorial Day, as shoppers get serious about house hunting before their summer vacation and the new school year in the fall. By targeting late spring, sellers can get their home listed when the most shoppers are looking. When more buyers are competing for homes, sellers can command a higher price.”

And they’re not the only ones saying selling in May can help homeowners net top dollar. ATTOM Data conducted a similar study by analyzing 59 million home sales over the past 13 years:

“Freshly compiled sales statistics from ATTOM demonstrate that home sellers continue to reap significant benefits from listing their properties during the month of May. Examination of home sales trends spanning thirteen years reveals that, on average, sellers are commanding 11.1 percent premium above the estimated market value.”

An article from Bankrate echoes this sentiment and brings this all together to show that any time in April or May is a good time:

“Some patterns and trends usually do hold true throughout the year, and one is that spring continues to be the best time to sell. Sellers can net thousands of dollars more if they sell during the peak months of April and May. . .”

The window to sell during prime time is very much still open, so you can make a move and potentially cash in big if you sell now.

That said, the best week to list your house really depends on a few local factors, like buyer demand, how many homes are for sale nearby, and how quickly things are selling. That’s why working with an experienced agent who knows your area is key. 

Bottom Line

Spring is the busiest time in real estate – and there’s still time to take full advantage of that momentum.

What’s holding you back from making your move this spring? And what would help you feel ready? Connect with an agent to talk about it.

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can make. Why? Because, like anything in life, the right prep work makes things clearer.

The best time to get serious about buying is before you’re ready to buy. Here’s why.

Pre-Approval Helps You Understand Your Numbers

One of the biggest benefits of pre-approval is how it helps you understand your buying power. As part of the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score, and more. That number is power.

Once you have that clarity, you’re no longer guessing. You know what you’re working with. And that gives you the information you need to be able to plan ahead. That way, you’re not falling in love with homes that are outside of your price range – or missing out on ones that aren’t.

Pre-Approval Helps You Move Quickly When You’re Ready

You don’t have to be ready to buy to be ready to buy.

It happens all the time – someone scrolls through listings just for fun, and then BAM – they fall in love with something they see online. But by the time they scramble to connect with an agent and then get pre-approved with a lender, someone else beats them to it, and they lose the home. And you don’t want that to happen to you.

While you can’t control when the right home shows up – you can be ready for it.

Pre-approval isn’t about jumping the gun or rushing your timeline. It’s about making sure you’re ready when it’s go-time. As Experian explains:

“Waiting too long to get a preapproval, however, could leave you at a disadvantage . . . you could find the perfect home, but another buyer could snatch it up while you’re waiting for the lender to review your preapproval application. . . getting a preapproval just before you begin actively looking at homes may be your best option.”

Instead of rushing to figure out your numbers, trying to get documentation for your home loan together, and watching the house you love slip away while you wait to hear from your lender, you’re already in the game.

It’s like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.

But pre-approvals do have an expiration date, so be sure to ask your lender how long it’s good for. Bankrate offers this insight:

“Many mortgage preapprovals are valid for 90 days, though some lenders will only authorize a 30- or 60-day preapproval. If your preapproval expires, getting it renewed can be as simple as your lender rechecking your credit and finances to ensure there have been no major changes to your situation since the first time ‘round.”

The thing is, if you’ve been pre-approved – even if you’re just thinking about casually looking – you have a much better sense of how to navigate your home search within your budget. Plus, you’ll be ready if the perfect home comes along. So why not make it happen?

Bottom Line

Getting pre-approved doesn’t mean you have to buy a house today. But it does mean you’ll know what you’re working with when the right one shows up. If you want to get pre-approved, connect with a lender to get that process started.

In the meantime, have a conversation with an agent about what’s on your mind and what you’re looking for.

If the perfect house popped up tomorrow, would you be ready to make a move?