All Forum Posts by: Eric Thomas

This is my first time posting at BiggerPockets, so I'm not sure if this is the best forum or not.

So, currently I'm a university student qualified to receive student loans through FAFSA. The interest and time frame of paying the $ back is a heck of a deal to pass. The thing is I don't actually need it. I'm married and my wife works, which pays our living expenses. 

I already know that I can't use the cash I get as a down payment on a house. But, can we instead live on my student loans, while my wife saves a majority of her income? Within a year, we would be able to have the down payment necessary.

My gut tells me that lenders wouldn't be bothered by this either, because our housing expense (renting) is around 25% of my wife's net income. 

Would this work?

If this is possible, I want to research how my plan would compare to taking advantage of first time home buyer programs. Thanks for your help!