does having a student loan really affect how much you can borrow

Yeah a student loan can affect how much you may be able to borrow — but usually not in the way first home buyers expect. The student loan itself (like the $28k balance) isn’t what the bank focuses on. It’s more about the repayments coming out of your income. Because it’s deducted through PAYE, your take-home pay is lower, and that’s what banks use when they’re working out how much you can afford in mortgage...