LendingTree: Student loan debt is driving Millennials to buy fixer-upper homes

LendingTree: student loan debt is driving Millennials to buy fixer-upper homes | 2019-05-24 By admin 2 months ago The era of unusually affordable housing has ended, leaving many debt-burdened Americans struggling to afford housing.

LendingTree: Student loan debt is driving Millennials to buy fixer-upper homes With more than $1.5 trillion in student loan debt, new LendingTree research shows an overwhelming majority of homebuyers are considering purchasing "fixer-upper" homes to combat costs.

Be mindful of your student loan debt. It’s possible to buy a home with student loan debt, but what can stand between you and a mortgage approval is how your outstanding student loan balance affects your DTI ratio. In most cases, you’ll want to keep your DTI ratio at or below 43%.

New LendingTree research shows an overwhelming majority of homebuyers with. As it turns out, student loan debt can also influence the type of home you buy.. never watch those channels also say they're open to buying a fixer-upper home.. Another 23% of millennials used credit cards to fund their.

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If you are planning to purchase a fixer-upper or perhaps you want to make improvements to your existing home, an FHA 203k. LendingTree: Student loan debt is driving Millennials to buy fixer-upper homes – LendingTree’s data revealed that 25% of Millennial homeowners are using their savings to finance their recent home.

 · Other big findings: 43% of respondents who are first-time home buyers, of all ages, are single; about a quarter have lousy credit; and the overwhelming majority, 79%, are in debt.

As it turns out, student loan debt can also influence the type of home you buy. New LendingTree research shows an overwhelming majority of homebuyers with student loan debt would consider purchasing a fixer-upper. These homes typically have lower price points when compared to similar properties that are move-in ready.

And if you're dealing with student loan debt, you might find yourself. LendingTree-affiliated site, millennial households with student debt. Beth Jones bought a fixer upper home at age 25 and renovated the entire interior.. Making consistent student loan payments actually helps drive up your credit score.

Dear Tim, I would like to give you a "short synopsis" of where we are with our mortgage.lendingtree: student loan debt is driving Millennials to buy fixer-upper homes – "Buyers paying off a student loan balance are more likely to consider purchasing a fixer-upper house than. their savings.