To buy or not to buy with my debt to income ratio

[Shala Russell]

Hello,

Im new to property investing so I would like to know what others think about my situation. I recently graduated with $65,000 in student loan debt and I am currently making $61,000 a year. I am interested in by a duplex that is $285,000 in an "up and coming" neighborhood. I have sentimental feelings towards this house because it is in the neighborhood that I grew up in, its one of the cheapest duplexes available for purchase and I feel that it will be a great investment in the future (but Im no expert). My question is: Is this too expensive for my debt to income ratio? Is it a good investment or is it too expensive? Would it be a bad idea to make this large purchase and better to find houses with a lesser mortgage

[Account Closed]

Derek, FNMA just changed the rules on the student loan calculation to allow use of the actual payment only, should help a lot of younger buyers qualify.  Not sure when the change becomes effective, was in WSJ last week.