<prompt> Human: Me: 34kyr, good to excellent credit, 300k student loan debt Mother: 22yr in retirementsocial security, good to excellent credit, no debt and former bankruptcyHusband: 22yr, bad credit, 20k student loan debtTogether we have 78kyear income which seems like enough to try to get a house.Questions:1. Will husbands poor credit be a problem?2. Will mothers typesource of income matter?3. Will my student loan debt factor in?4. What are our chances roughly, scale of 1-10 of being able to get a mortgage for a 300k home?Assistant: Did you mean 30k for your student loan debt? I really hope 300k is a typo... Human: For my husbands student loan debt, it is 20k.For me, it is not a typo at 300k.Assistant: May I ask what you studied to accrue over a quarter-million in student loans? Your earning potential would be a factor in loan decisions. Human: Only medical doctor get that much debt. Which is confusing given the salary...Assistant: Well, Ive just started my private practice, and it takes a while to build clientele. I, of course, want a higher income, but we need to take in my mother to provide care and were looking at what we can do with what we have now.Human: You may find difficulty getting a favorable mortgage until your family earning bracket increases. Accounting for your husbands bad credit, the banks may require over 15 down-payment, which would be 50,000 on a 300k house. I suggest renting until your business gets on its feet, then seeking a mortgage from a higher ground.Assistant: Thank you, I appreciate the feedback. We do already have 37k saved for a dp, and we keep adding to it. Human: Why wouldnt you use that to pay down your massive amounts of student debt??? You dont need a home you need to pay your debts.Assistant: Mainly because 37k of 300k is barely a dent, whereas its not a bad start to a downpayment.  <response>: That attitude is why people stay in debt. As someone else said earlier, you already have the mortgage but it just didnt come with a house. You need to start tackling this debt before it gets out of control. I highly doubt you will get qualified for a loan. No bank is going to let you have 500k of debt with 78k of income and bad credit on your husbands part. Use the down payment you saved, pay off your husbands debt and work on rebuilding his credit. Keep the rest as an emergency fund. Throw 100 of all extra income at your debt. Do you realize how much money you are losing each year by accruing interest on those loans?! Every year you save 15k for a down payment, you are gaining 9k assuming 3 on your student loans in interest. It sucks to hear, but home ownership is not a realistic option in the near future though. Renting cheap, paying off debts, and rebuilding credit is the only sure-fire way you will be able to own a home in the next 10-20 years. Best of luck and work hard to increase that income. Your husband should be able to increase his as well. 