Question

During this shut down I have been going back and forth about going to school. I’m currently a Massage therapist that makes almost $45, 000 a year, but I want to work my way to getting my doctorate in Occupational Therapy to work in a hospital making at least $100, 000. **I hope this isn’t silly questions. ** My concern is that I want to get my family in a house in a good school district for our son. however. Would going to school affect our chances getting into a house? Should I wait to go to school? What’s a best way to do this? It’s been 12 years since I been in school.  

Answer 1

Good goals

Comments

@bayern7 thank you

Answer 2

Income and credit score/history affect your chances of getting a home. Banks wouldn’t even know you’re in school unless you tell them.  

Comments

@zapata thank you

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@zapata this is what I was going to say

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If she takes out student loans for school they will count towards her DTI when pre-qualifying for a home

Answer 3

I’m an OT and I’m wondering what state you live in where 100k OT salary happens in a hospital (because I need to move there )

Comments

@leporid OT here in Indiana starts off at $85, 000, but I have someone I know that can get me into working in a hospital starting at $85, 000 and working up to $100, 000 a year with me having over 12 years experience in different modalities working with professionals.  

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@leporid avg salary in Ontario is 95k

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@observable wow!  

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@tighe it’s a good profession to choose. Very flexible! The only setting I know where the doctorate degree vs the required masters really makes a financial difference is in education/school system. I’ve worked in Maryland and Delaware.  

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@leporid I always what to help people but I felt like I can do more than being a LMT. I wanted to work in the hospital field. I was told that they are looking for PT and OT. Even to travel to patients homes.  

Answer 4

You need a long term plan which needs to be researched. Is the doctorate a 6 yr program? How much is it? How will you pay for it? Will you stop working & GI back to school FT? Or is going PT an option to see if you like it? What’s your timeline for buying a house? How much can you afford to spend?  

Comments

@berchtesgaden0 yes I thought about that. I am trying to talk to a few people because it would be partly paid for due to the passing of my dad. I will still work FT. I would hope to catch this house going up for market around $160, 000. Putting down $20, 000 cash and apply for the first time home owner program. I would look into going as a PT and seeing if I would like it.  

Answer 5

Are you asking about school because you intend to just go to school and not be working? Because that would definitely affect your ability to get a mortgage,  

Comments

@tend53 that’s what I was worried about. Yes, I would still be working. Just would feel bad if my husband work harder than he already does.  

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I would not make any changes to your job situation while trying to get a mortgage. They take into account all of that.  

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@tend53 ok. I’ll wait until we get a house. Thank you dear.  

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@tighe You're welcome. We are in the process of purchasing a house ourselves and my husband was laid off last year twice, and switching jobs three times almost cost us being able to get a mortgage. I know a change in income would make it difficult as well.  

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@tend53 I will have y’all in my thoughts in hope that y’all get the house and for yall finances get back in order. I hope everything works out for you. Thank you again for the advice.  

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@tighe Thank you!  

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No it doesn't. See my post.  

Answer 6

Where do you live? Because OTs do not make $100, 000 a year here!  

Comments

@imprimis8964 I tagged you in the comment where another person asked the same question.  

Answer 7

Anyway you can make more as a massage therapist? More school and home buying get really pricey. I’ve heard some massage therapists can get into the upper 5 figures depending on how they run their business.  

Comments

@andrus69 yes, I make $45, 000 a year, but I wanted a career to help more people. I agree that it will be pricey. I have been praying to find another way to help with my schooling also my little one will be starting school next year. I’m signing him up to “On my way Pre-K” to help with the cost.  

Answer 8

. I have $200, 000 in law school debt. Repayment is income-based and forgiven after 30 years. If I die, it dies with me. We got a mortgage without any problems. The refinance is easy-peasy, too. They just look at debt-to-income ratio and credit score. Follow your dream, whatever that is. I only went to school when I allowed myself to stop worrying about the debt. I didn't even look at the statements. I still don't. I ha e other debt I'm worried about and working to pay down, but students loans, for me personally, aren't keeping me up at night

Answer 9

Congratulations on the new born. It’s been 12 years since I been in school. I didn’t know if going to school will affect our chances in getting into a home. I read that the housing market is going down 40% in the next few months ‍♀️. Someone told me that’s the best time to get a house. I just don’t want me going to go to school stop us from getting into our house. I’ll still will try to go for OT just want to make the right choice. It’s my dream to help as many people as possible.