How does a Student Afford a Home?

Hello again. Hope everyone is having a great Thursday. I am at work, and yes, this is my lunch hour (no blogging while on the clock), and as I am trying to read my mind wander on my STUDENT LOANS, yeah, that’s kind of a buzz kill, but here is an interesting tid-bit that you may have known, but me, not being a home owner, did not. When student loans are on deferment they still are counted as a payment when you are trying to get a home loan. When my loan officer informed me of this, I politely told him that “if that is the case I may never get a loan because I will be in school for a long time and my loans (unless something amazing happens) will continue to accumulate”. And he said “Oh” as he saw his commission disappearing before his eyes. He then asked “is there someone that you can ask for the down payment?” I couldn’t help myself, I laughed out loud. “Of course not” I told him. I guess this means that I need to somehow save the 5% down payment, while supporting myself and my 3 furry four-legged children. I guess I may be renting for a long time. Has anyone of you readers had this problem? What did you do? Did you finally get your dream home? Hope you have a great day.

Amaryllis