Thinking about student loan debt is daunting and mentally draining. It is something that could be hanging over you, weighing you down in many areas of your life. When one door seems to open, another seems to close – you’ve finally landed that dream job you’ve always wanted thanks to your schooling, but are having trouble buying a house because of student loan debt.

You might be looking at purchasing your first house but realize that your student loan debt won’t improve if you keep spending your money. Luckily, you won’t have to put other areas of your life on pause until your debt is paid – you can still do all of the things you love simultaneously, though it’ll take a bit more planning. Here is how to buy a house when you have student loans.

Plan ahead

In the months before you apply for a loan, try and get into the habit of paying bills on time if you haven’t before. Not only will this improve your credit score, but it will put you into a good habit of paying bills on time. Ultimately, this makes you more financially stable when you have to pay off your mortgage loan at the same time as your student debt.

Improve your credit score

Having bad credit can hinder you from purchasing a house, making it more difficult to gain approval and an elevated interested rate. By improving your credit score, you can prevent the added stress and make it easier to purchase a house. Some of the ways to improve your credit score is by making payments on time, not missing payments, and sticking to a strict budget.

Debt-to-Income Ratio

The house loaner will take a look at your debt-to-income ratio, which is the amount of debt you pay per month as a percentage of your income. By repaying your existing debt and making more income, you’ll be able to improve this ratio, thus increasing the chances you’ll get approved to buy a house.

Avoid applying for new credit cards

Try not to take out any new loans or apply for new credit cards before you apply for a mortgage loan for a house. Doing so will impact your credit score and make it harder to get approved for a loan.

Get a mortgage

Don’t look for a home first – get a mortgage before you get a home. Once you get a mortgage and see how much leeway you have for a home, you’ll be able to limit your choices and purchase a house that’s appropriate to you and your budget. It will cut out a lot of hassle and make things smoother in the long run.

Consolidate your debt into a loan

By consolidating your loans, you’re moving them into a new loan. This is beneficial especially if you’re having trouble paying off your loans and keeping track of all of them. It will simplify the process and put them all into one loan. By putting this debt into a personal loan, you’ll be paying the debt back with a fixed repayment term, thus preventing missed payments and improving your credit score.

There are many ways to buy a house when you have student loans. By consolidating your debt into a loan, planning ahead, and improving your credit score, you’ll put yourself into a position of power and make it easier for you to get that loan approval.