Post # 32
I think you should be fine. Everyone’s told me that as long as you pay the loans in time it doesn’t hurt you. I am scared of it hurting us too. I have 71k and make less than 37k a year so it’s a lot of my take home pay. I kick myself thinking about how I could probably have a new car, fully insured, and still have money left over with what I pay for my student loans.
I have a long and great credit history but have debt, Fiance has no debt but also no credit…working on building it now. I have read that you want to ensure you have no credit debt though when applying for a mortgage. I don’t know how true that is but it makes sense.
Post # 33
@renwoman: It depends on a few things, but I would suggest talking to your lender or mortgage broker. I have student loans as well. If you pay at least the minimum amount each month it will take a while to pay them off, but it won’t hurt your credit.
SO and I just got our first place. The deal was that he would save for the down payment, while I focused on my loans (which are now less than 9 thousand total). Took us three years of living with our parents, but it was worth it.
For us, we decided that the mortgage should be in his name. We aren’t engaged or married and felt that, since he was paying the down payment, it was only fair. This way we’re both protected legally to a certain extent.
Would you guys be interested in doing something similiar? I pay a small pre-determined amount in “rent” (for lack of better term) to my SO each month. That way I’m contributing and feel like the place is mine too.
Post # 34
@arielmerms: +1 I’m in the same boat as you, and would love to hear if anyone has any insight!