 TITLE: Should You Save for a Down Payment or Pay off Student Loans? CONTENT: Can Student Loans Affect Getting a Mortgage?\n--------------------------------------------\nWhen it comes to getting approved for a mortgage, your student loan debt comes into play in how it affects your payment history and debt-to-income ratio.\nTo qualify for a conventional mortgage, borrowers typically need to have a credit score of about 620. Payment history is the most important factor in determining your FICO® Score☉ (the scoring model used in many mortgage lending decisions), so having a history of late or missed student loan payments will drag down your score and make it harder to get approved for a loan with great rates, or at all. On the other side of the coin, consistent, timely payments will reflect positively. Generally speaking, the best mortgage rates and terms go to borrowers who have higher credit scores.\nYour debt-to-income ratio, as explained above, will also factor into whether you can qualify for a mortgage loan, and what rates you'll receive if you approved. High student loan payments can compromise your ability to get a mortgage loan. END