Have you ever had that feeling of paying off your loans, but you notice the number on the debt owed just doesn't go down? You're not alone, this can be especially common if you took out student loans. Student loan debt has been categorized as one of the most widespread financial burdens of our time, second only to mortgage loans. according to Money.com "The latest student loan statistics show that the average borrower owes at least $35,000 in student loan debt".
Unfortunately, these loan payments can affect your mortgage application and ability to buy a home since they must all be taken into consideration for your pre-approval. With student loan debt at nearly $1.6 trillion, it's easy to tell this is something that affects many families throughout the year. One small silver lining to the COVID pandemic is the incredibly opportune timing to consider refinancing.
Don't let a student loan affect your ability to buy in a home for sale in Frisco Texas, a home for sale in Prosper Texas, a home for sale in Little Elm Texas, or a home for sale in Aubrey Texas.
Money Magazine's article on the "Best Student Loan Refinance Companies of 2020" explains what you'll need to apply, how to find the right lender, and other information helpful in determining if this is the right decision for you.
Money.com researched the student loan refinance industry. In our research, we analyzed different lenders by judging them on these four categories:
· Financial strength
· Eligibility requirements
· Loan specifications
· Customer experience
The average borrower could save thousands of dollars just by making the change. Weigh your options, read the fine print, and check out more information HERE if refinancing your private student loans is right for you.
Buying a home for sale in Frisco Texas, home for sale in Prosper Texas, home for sale in Little Elm Texas, home for sale in Aubrey Texas, or a home for sale in Dallas Texas will be much easier with your student loan debt under control. View the article HERE by Money.com
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