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Student debt and mortgage

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Do you have a student debt? Even then you can just buy a house! However, your student debt affects the maximum amount you can borrow. This is because you have to repay an amount every month on your student debt. This means that you will have less money left over to pay the mortgage. The mortgage lender looks at the total amount you borrowed at the time and when the debt was incurred. How heavily student debt counts toward a mortgage depends on the system under which you studied. A certain percentage of the original debt is deducted from the maximum living expenses per month. This is 0.65% for study debt from the old system or 0.35% for study debt from the new system.

Concealing your student debt is neither allowed nor a good idea. On Alpina.nl we tell you more about student debt in combination with a mortgage. Moreover, you can immediately calculate your maximum mortgage with student debt.

Calculate your mortgage with student debt

Calculating your maximum mortgage takes into account the interest rate, the amount of original student debt and the term of the student loan. In addition, the loan system is also important for calculating. If you took out the loan with the old loan system (before Sept. 1, 2015), a rate of 0.65% applies. Did you start your studies after that time? Then you fall under the new loan system and a rate of 0.35% applies. At Alpina.nl you can immediately calculate your maximum mortgage with student debt.

Calculate your maximum mortgage immediately!

Impact of student debt on mortgage

If you have student debt, it affects your maximum mortgage. A student debt reduces the amount you are allowed to borrow when taking out a mortgage. This is because the mortgage lender assumes that you will pay off an amount each month on your student debt. That means you will have less money left over each month to pay your mortgage payments. If you have student debt, it does not mean you cannot take out a mortgage. The impact of student debt on the mortgage is less than that of any other loan. This is because the weighting factor of a consumer debt is 2%, while for a study debt it is 0.65% or 0.35%, depending on the loan system. The weighting factor is the percentage of the original student debt that is deducted from the maximum mortgage.

Frequently Asked Questions

How does your student debt affect your mortgage?

A study debt from after 2015 (this falls under the new loan system) does not count as heavily toward the mortgage as a study debt under the old loan system. A certain percentage of the original debt is deducted from the maximum living expenses per month. This is 0.65% for study debt under the old system or 0.35% for study debt under the new system.

Why original student debt mortgage?

A mortgage lender assumes the original student debt when calculating the maximum mortgage. Even if you have already repaid part of it. On the basis of the original student debt, they estimate what you will spend per month to repay it. So they do not look at what you have already repaid. The government has indicated that they want the current level of student debt to be taken into account when applying for a mortgage. However, it is not yet known when this proposal will take effect.

What if you don't declare your student debt on mortgage?

You are required by law to declare all your financial obligations when applying for a mortgage. So this also applies to student debt. However, a student debt is not BKR registered. As a result, a mortgage lender cannot check whether you have a student debt and how high it is. Still, it is not wise to conceal a student debt when applying for a mortgage. The mortgage lender cannot then make a proper calculation of what you can borrow for your mortgage. As a result, you may not be able to pay the monthly mortgage payments. Moreover, if it later turns out that you do have a student debt, your right to insurance under the National Mortgage Guarantee (NHG) will be lost.

How is student debt included in mortgage?

How study debt is included in the mortgage depends on the loan system. A study debt under the old loan system with basic grant will affect your maximum mortgage more than a study debt under the new loan system (as of Sept. 1, 2015). Mortgage lenders assume that you pay off a percentage of your student debt each month. They assume 0.65% for study debt under the old system or 0.35% for study debt under the new system.

How heavily does student debt weigh on mortgage?

How heavily study debt counts toward a mortgage depends on the system under which you studied. If you started studying after Sept. 1, 2015, your study debt falls under the new system. You may repay the loan in 35 years. If you started studying before Sept. 1, 2015, your study debt falls under the old system. These debts count more heavily because you must repay them in 15 years.

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