Student Loans and DTI

[Patrick Crotty]

I am 36 and currently researching real estate investing. I have about $60k in student loan debt spread out over 6 loans and am making about $450 in monthly payments. I have approximately 22-27 years left on my current repayment plans, respectively. Making larger monthly payments would obviously reduce the overall cost of my loan and the amount of time I would be paying back, but would affect my debt-to-income ratio (gross income is $120k/year). Is this affect on my DTI enough to be worried about with regard to getting a mortgage? I have fantastic credit.

I could technically speaking wipe out my savings and pay off my student loan debt in one fell swoop, but then I would be starting at $0.

I'd appreciate any advice that anyone could offer. Thanks

[Caleb Heimsoth]

Depending how big of a home you’re purchasing that payment for student debt is very small compared to your income, so your DTI will likely not be overly affected