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Updated about 6 years ago,

User Stats

10
Posts
6
Votes
Brett Staniforth
  • Rental Property Investor
  • Chicago, IL
6
Votes |
10
Posts

Banks scared of loaning to college grads with student loan debt?

Brett Staniforth
  • Rental Property Investor
  • Chicago, IL
Posted

Hello BP Community!

I am graduating from college this Spring and am looking to get into a market (either Minneapolis, MN or Des Moines, IA area) to start acquiring multi-family properties to BRRR. I have enough capital saved up for a down payment but will look to get some type of loan (either FHA or Conventional) and will be looking to work with local banks to secure that. My question for you BP Community is are banks scared of giving recent college grads with student debt hanging over their head loans for mortgages? The only full time work experience I have is through internships so I don't have a steady income that can support a mortgage (worst-case scenario) but I do have a high credit score that I have built up over my college career. Let me know your thoughts. Appreciate the future input!

Brett

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