Why Student Loans and Mortgages Don't Mix

Why Student Loans and Mortgages Don’t Mix

Last week, I heard a horrible story a few pal of a pal. Specifically, the pal’s pal was planning to roll a six-figure student loan debt into their mortgage.

I’ve by no means met this individual, so I am unable to hurl myself upon them shouting, “Stop! Stop before it’s too late!” So think about this put up the digital equal. You ought to by no means, ever roll your student loan debt into your private home — notably not if your private home was bought at extraordinarily low value 10 years in the past, and your student loan debt is in regards to the dimension of the principal in your mortgage.

I do know what you’re about to say. I’ve heard all the reasons. “I’ll only have one payment to make every month!,” individuals inform me. “And at such a low interest rate! I’ll save hundreds of dollars a month! It’s a great deal!”