You don’t have to choose whether to pay off student loans or buy a house. With the help of first-time home buyer programs, and if you’re able to build up enough emergency savings, you may be able to do both at the same time.
Here are three ways to decide if that’s possible for you.
1. Calculate your down payment
For many student loan borrowers, the biggest hurdle to homebuying is coming up with a down payment. But many states offer first-time home buyer programs that will subsidize the down payment. Many lenders also offer mortgages that require far less than the traditional down payment of 20% of the home’s price.
Many lenders offer mortgages that require far less than the traditional down payment of 20% of the home’s price.
