 Can a 21 year old with 30,000 dollars and good credit get a rent to own home? |
Or will they get turned down because of their age and waiting tables?
Additional Details
I had a lot of people tell me that I probably couldn't do it because of my age and job.... |
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 If a condo is selling (listed on MLS) for 190,000? |
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... |
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 Are they real? |
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 What can I do if my roommate want to use his security deposit as his last rent? |
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 Sale of house? |
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 Can an apartment evict you for an error on your check? |
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 Anyone else really annoyed at housing situation today? |
| I am 24 years old and I recently was living in rented accomodation with a friend of mine paying £300 a month. I make an ok income but not a great amount but could in no way afford a mortgage which ... |
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katebug_08 | Am i able to buy a house with this salary? |
ok so i work 2 jobs and make 20$ an hour together and i get paid bi weelke my boyfriend makes about 8 an hour and also gets paid biweekly. about 2400 a month all togehter what type of house would we be able to get. price range? thanks
Additional Details
im sorry i added wrong its around 3000 a month |
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mack
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Go with the answer Steve D provided; it's the most realistic and conservative. I've been a realtor for over 14 years and have helped a lot of first-time buyers. Find a good realtor who has been doing it for a while and ask them to give you a briefing of the entire process. |
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CompSci Geek
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You could possibly get a loan to get a house and, depending on the price of your home, your mortgage will likely be $1000+ a month. You need to take into account your expenses, bills, grocery, gas, car maintenance, etc. and whatever you have left over is the monthly mortgage you can afford.
There are also other dependencies, such as your credit rating, his credit rating, are you lending together, will you have a co-signer, the price of your house, and of course you'll need some up front financing, usually a percentage of the loan. |
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dz
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that only gives you 36k a year you might get a nice trailor for that. |
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Steve D
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Based on $2400/month total gross salary, that works out to just under $29,000 a year. Using the 2.5 times your salary rule of thumb (it varies by person and debt), you could probably get a $72,500 mortgage. Assuming you can put down 3.5% for am fha loan, that puts you in te $75,000 range for a house. if your credit is bad, or if you already have a high debt ratio, this amount may be reduced. Check with a mortgage broker or bank about getting pre-approved. |
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Pengy
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What no on eelse here seems to take into consideration is what other bills you have which does make a difference. If you have car payments and credit cards that reduces you ability and your loan maximum. With no debt you would be looking at around 75K a year maximum. Personally would not finance a home for the maximum I could be eligible for as the additional expenses are quite large |
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ibu guru
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Never buy a house or other property with a bf/gf. Wait until you are married before you commingle any funds, joint bank accounts, property ownership, etc. You are asking for major financial trouble and a busted relationship if you "break the rule," so to speak.
Now where in tarnation are you going to find any halfway decent house for $60,000, and be able to pay utilities, maintenance and repairs, property taxes, homeowners insurance, etc on an income of only $2400/month (assuming you have no credit card debt and the car is paid for)? Maybe you could, but it would be most unwise at present! |
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Shawnta M
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What is your income before taxes?
What is your monthly debt that is on your credit report (Car note, credit cards, etc)? |
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golferwhoworks
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IDK as you have not stated how many hours you work at each job and how long you or boyfriend have been employed. ALSO never buy a home with a boyfriend. WAIT till you are wed |
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dana s
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Well you should be looking in and around the $100,000 to $115,000. Any more then that is finacial suicide unless you have a decent chunk of money saved in the bank. Also there are alot of expenses you would even imagine. About $115,000 should be your max. |
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