Will my future wife's student loan debt affect our ability to qualify to buy a house?
My fiancee thinks which the some-more tyro loan debt she has, the improved as well as sees no reason to widen her dollar to equivocate it. In actuality she regularly takes some-more than she needs only so she can be some-more gentle when she could of got along with distant less. Needless to say, I’m worried. Will this start my credit measure when you get tied together or start the chances during shopping or subordinate for the house?
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Yes – unless your combined income is so high it doesn’t matter.
Yes it will matter but if she gets a high-paying job then maybe the loan re-payments will be small enough that the two of you can still qualify for a sizable home loan.
No it will NOT affect your score, unless you are on the loan with her. Yes it will hinder your chances of getting a house, UNLESS you can qualify in your name ONLY
racking up huge student loan debt is going to probably ruin your future and destroy your marriage , havent you seen the news. some lady the other day racked up 500 000 in student loans to be a doctor and she cant pay it back , she is a dr but she is a financial disaster , bankrupsy cant even save you ,
i would run away from your fiance and never look back.
Okay, this is going to be a bit cold but my point is meant to provoke soul searching…
Do you really think that someone who handles credit this way isn’t going to handle everything else in life this way too?
and
If you cannot compromise and come to a mutual understand about money and debt before you get married, why do you think marriage will do anything but make it worse?
I recommend that you try to get her involved with you in something like Dave Ramsey’s financial planning for couples. If the two of you cannot get your money act coordinated before you marry, disaster awaits you after marriage.
The short answer to your question is twofold: (1) her debts will not impact you directly until or unless you cosign for them. (2) However, as long as you two are on the same "boat of life" together you will end up bailing her out every time she starts to go under. Mortgage is an example of this. If she is a financially disaster, you will have to qualify and carry the load all by yourself.
The short primmer on student loans goes like this: The people most likely to crash and burn with student loans do some combination of these five things: (1) Borrow for a 2 year degree or community college (2) Borrow more 100% of the average salary for college graduate with their degree and 1 year of experience, (3) Borrow in the first two years of a four year degree, (4) Borrow and don’t complete the degree, and (5) defer payment on the loans with interest accruing during the deferment.
scholarships.onlinewebshop.net – it provides some tips about applying to US federal and state grants for college students.
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