By Mark Calvey | San Francisco Business Times
Student loans aren’t a big hurdle to homeownership, at least for those who actually graduate with at least a four-year degree, according to real estate web site Zillow.
The impact of hefty student loans on career and family and the pace of millennials moving into homeownership have been points of heated debate.
Dan Macklin, a co-founder and executive at San Francisco-based SoFi, said the lender has several millennial clients taking out mortgages, contrary to reports that that generation has little interest in homeownership.
[OPINION] Student debt can put a house out of reach
By Kenneth Harney | Arizona Daily Star
Heads up for millennials and first-time home shoppers carrying student debt: New rules could make it tougher to qualify for a low down payment Federal Housing Administration (FHA) mortgage. New rules on down-payment gifts could complicate things for you as well.
The net effect of the changes, say mortgage lenders and analysts, will be to make FHA loans, which traditionally have been the go-to financing source for young, first-time and moderate-income purchasers, less attractive.