The $30,000 would not preclude you from getting a mortgage, in and of itself. The monthly payment is what is looked at, in relation to your gross monthly income...called debt-to-income ratio. Take a moment to get approved. It is painless, complimentary and then you will have all the information needed to make a decision on home ownership. You may be pleasantly surprised! :) Best wishes.
I will say this though, FHA is right now the most flexible lending source when it comes to debt-to-income ratios. I am seeing files where the debt-to-income ratios (new mortgage payment + all monthly debt payments /gross monthly qualifying income) are getting approved at 55-56% on FHA where conventional lenders limit us to 41-45%.
During the course of helping buyers out, student debt always seems to be prior to looking at a house. I would recommend speaking with a qualified loan consultant who will help you determine if you are qualified to move forward and purchase a home. I'm not sure if you are local to Minneapolis, or looking to relocate, but let me know if you would like the name of a local professional. She goes above and beyond the call of duty for her clients.
We've worked with plenty of folks who have qualified while residents.
I'd be glad to speak on the phone or privately via email to get the details. If you know the monthly amounts of those payments, we could definitely walk through the numbers. In that conversation, you'd know if the debts will preclude using an FHA loan.
On any FHA v. Conventional loan comparison, the other big detail is credit score. The conventional mortgage insurance can get very expensive at even a 699 credit score and it can often be easier to qualify and less expensive with FHA. We are a national lender that focuses on 30 Year Fixed loans, both FHA and conventional. I ran a comparison at 700 FICO a few months back
Be glad to help,