Are you seeing student loan debt making a large impact on your buyers qualifying?

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Victoria Frieberg, Realtor, Broker, Rush Point Realty LLC (Rush Point Realty LLC, Victoria Frieberg, broker)

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

No, thats just an anti education campaign launched by the russians and their fox news helpers.

Oct 11, 2019 09:35 PM

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Bob Crane

Stevens Point, WI

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Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

It does.

Feb 05, 2018 10:44 PM

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Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Not in my market.

Dec 21, 2017 06:47 AM

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Bob Crane

Stevens Point, WI

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Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

Yes.

Jun 18, 2018 10:30 PM

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Jeanne Gregory

RE/MAX Southwest - Sugar Land, TX

The most important home I sell is YOURS!

I have not. I'm working with two young, educated couples who have 0 school debt. Paid for with scholarships and some parental help.

Feb 11, 2015 10:40 AM

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Marilyn O'Donoghue

Long & Foster Avalon - Avalon, NJ

I work in a vacation home area, so it has not reached my town yet. I do wonder what will happen 10 years from now to all the vacation areas?

Feb 11, 2015 08:28 AM

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Joe Pryor

The Virtual Real Estate Team - Oklahoma City, OK

REALTOR® - Oklahoma Investment Properties

Yes, and I have done short sales in the last five years where student loans debt went from deferred to active where FHA was not using them in ratios then.

Feb 11, 2015 07:59 AM

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Michael Mahoney

Real Broker, LLC - Boston, MA

Boston Realtor

Young people are certainly taking on a lot of debt to get a 4 year degree these days. I do believe it will delay (in years) people from purchasing until they are secure in their career. I have also noticed that 1st time buyers are not as young as they have been in the past.

Feb 11, 2015 07:46 AM

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Victoria Frieberg

Rush Point Realty LLC, Victoria Frieberg, broker - Rush City, MN

Realtor, Broker, Rush Point Realty LLC

I have a current client that cannot get hired in the field they are trained for..so making 14.00 per hour instead of 25.00 estimated. Student loan payoff will affect their credit for quite a while even if consolidated. Another potential seller/buyer, a single mother..has cosigned the last childs loans and will not qualify for a new home is she sells current home. I am finding myself asking potential sellers as well as buyers to speak to a lender prior to making the decision to place their home on the market.

Feb 11, 2015 07:09 AM

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Jill Murty, Realtor - Orange County, CA

Movoto - Laguna Niguel, CA

I have clients who are qualified for a loan, but they decided to continue renting until their student loans are paid off.

They're renting for $1,500/mo. and paying $4,000/mo. toward their student loans.

This could prompt a whole new discussion about student loans, but I'll leave it at that.

Feb 10, 2015 07:23 PM

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Mike Sasse

OfferPad Home Loans, LLC - Scottsdale, AZ

Sales Leader

I haven't seen this a lot, recently. A lot of times it does become a concern when parents are looking to refi and have co-signed the debt. If their student has not started to carry the debt on their own and cash flow is low (presumably from putting their kid through school the last 4+ years) it can get tricky. I know that we will qualify clients based off of an income-based repayment plan - I think it's pretty typical with all lenders.

Feb 10, 2015 12:34 PM

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Freida Knight

1st Knight Realty, Inc. - Winder, GA

1st Knight Realty, Inc.

I recently heard Clark Howard on WSB Radio in Atlanta say that there are resources on his website for students and their parents as to how to minimize student debt. His website is www. ClarkHoward.com.

Feb 10, 2015 01:01 AM

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Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not seen it with my clients.

Feb 09, 2015 08:34 PM

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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Victoria Frieberg well, this is surely a concern!

Feb 09, 2015 02:34 PM

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William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

I have not. Actually those that have gone through college seem to have a more grounded job than others.

Feb 09, 2015 10:26 AM

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No, thats just an anti education campaign launched by the russians and their fox news helpers.
I have not. I'm working with two young, educated couples who have 0 school debt. Paid for with scholarships and some parental help.
I work in a vacation home area, so it has not reached my town yet. I do wonder what will happen 10 years from now to all the vacation areas?
Yes, and I have done short sales in the last five years where student loans debt went from deferred to active where FHA was not using them in ratios then.
Young people are certainly taking on a lot of debt to get a 4 year degree these days. I do believe it will delay (in years) people from purchasing until they are secure in their career. I have also noticed that 1st time buyers are not as young as they have been in the past.
I have a current client that cannot get hired in the field they are trained for..so making 14.00 per hour instead of 25.00 estimated. Student loan payoff will affect their credit for quite a while even if consolidated. Another potential seller/buyer, a single mother..has cosigned the last childs loans and will not qualify for a new home is she sells current home. I am finding myself asking potential sellers as well as buyers to speak to a lender prior to making the decision to place their home on the market.
I have clients who are qualified for a loan, but they decided to continue renting until their student loans are paid off.

They're renting for $1,500/mo. and paying $4,000/mo. toward their student loans.

This could prompt a whole new discussion about student loans, but I'll leave it at that.
I haven't seen this a lot, recently. A lot of times it does become a concern when parents are looking to refi and have co-signed the debt. If their student has not started to carry the debt on their own and cash flow is low (presumably from putting their kid through school the last 4+ years) it can get tricky. I know that we will qualify clients based off of an income-based repayment plan - I think it's pretty typical with all lenders.
I recently heard Clark Howard on WSB Radio in Atlanta say that there are resources on his website for students and their parents as to how to minimize student debt. His website is www. ClarkHoward.com.
I have not. Actually those that have gone through college seem to have a more grounded job than others.