 Can you buy a house without a down payment? |
| I've heard that you can- has anyone done this? Is there some kind of a catch to it?... |
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 Is this legal? |
Location: Wisconsin
Situation: Renter at apartment building casually told manager that they were looking into a new apartment. No dates. Nothing verbal or written. Was told a few weeks ago ... |
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 Do you think 9.25 % interest rate is ok for a first time home buyer? |
I have to say that my credit score is acceptable (635) but my husband doesn't have any SS number and of course no credit.
So, I think that's the reason this interest rate is kind of ... |
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 My house is worth about £130000 Tesco want to buy it to knock it down how much should I sell for? |
Additional Details
Thank you for all your good advise and interest.
There is an existing tesco store behind my home and they want to build a tesco extra and need the three houses ... |
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 Is it better to have a nice down payment or a better credit score when purchasing a home? |
Additional Details
I want to purchase a home for 90K-100K and my score is in the high 500... |
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 Does a Landlord have the right to enter premises to inspect with tenants still in occupation? |
| Grand-daughter lives in a flat and landlord regularly comes to inspect and make personal remarks about untidyness. She and her boyfriend are good tenants and have been there for 3 years. Does the L... |
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 Would you ever get a roommate? |
| I am moving out of my parents house for the first time and I was looking at some places and to get a good house or a decent one its expensive but I went to craigslist and I found some really good ... |
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 My neighbor bought a Hyundai. If he parks it on the street, will it bring down property values? |
| I live on Balboa Island in Newport Beach and it is a very wealthy area. My neighbor bought a Hyundai, a faux luxury model called an Azera. If he parks it on the street, will it bring down my property ... |
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 Why do councill properties all stink of piss? |
| Im looking for a flat in london, and my budget means most of what is available is ex-council. iv been to see quite a few, about 20, and the communal areas (entrance and stairwell) all stink of piss. ... |
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 Can My landlord evict me if he made |
| on July 25th I called my landlord and asked him if it would be okay to pay more then half of the rent on the 8th and the remaining balance on the 15th he said yes verbally. to my husband but in a ... |
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 What type of home can you buy in your area for $100,000? |
| i mean like where i live a 100,000 house would be considered very nice;3-4bedrooms, 2 baths, nice yard...... |
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 I want to buy a house but I have bad credit.? |
| I am a 25 year old female and I want to get out of my parents home, I dont want to waste money on rent but I have bad credit, how can I go about buying a house with Bad credit.... |
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| Can we back out of a house purchase? |
| We are Canadian. living in Ontario. We have signed a contract to buy a house and have put $2,000 down as a deposit. My husband and I are now thinking of separating and if we do, we do not wish to ... |
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 How much rent to charge my girlfriend? |
| i have a two bedroom flat. my girlfriend is moving in soon. i was wondering what is a fair amount to ask her for rent. my gas and electricity is £40 a month, TV, phone and broadband package about £3... |
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 "Please help" I moved into this apartment on the first of last month. The top floor above me keeps banging. |
| I cant get any sleep whatsoever I spoke with the management company and they refuse to return my security deposit which equals one months rent. They never gave me a lease also, so im not under any ... |
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 How much house does $158,000 buy in your city? |
| I have a 2300 sq craftmen style house built in 1997. It is on a 1/2 acre lot with many trees and a creek. It is 3 stories with maple hardwood floors and a lot of arcitural flare. We are in a great ... |
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| Can my landlord evict me for no reason? |
| I always pay my rent on time and have not damaged the property. I've lived at this house for 2 1/2 years. The landlord and I have had a few disagreements about small issues, such as how I ... |
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 My husband and I are having trouble with......? |
| My husband and I are looking to buy our first house or rent a house with the option to buy. The problem is, his credit score isn't that high so we are having trouble getting a loan. Some of the ... |
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 What is rent to own all about?? |
| can someone tell me what renting to own is like and what it is alll ... |
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honesty_counts | How can I buy a house that I cannot afford. All my friends are buying houses, I WANT IT ALL !!? |
I've been house huninting for a while now and I've just gone to an open house and I LOVE IT !!! Yes its way out of my price range, but I think I can swing it. I don't want to give up on life, I want it all, and a great house like this is just the thing I need. I'm single and it has 5 bedrooms and 4 bathrooms so perhaps it is a bit over the top, but like I said, " I THINK I DESERVE IT".
Realistically, I will be hard pressed to be able to pay even 60% of the monthly mortgage. My friends keep urging me to "take the plunge" and "go for it". So how is it possible for me to buy such a huge house. Everyone else around is buying, McDonalds burger flippers are buying 4 or 6 homes a week, even kids delivering the newspapers are talking about how they are going to be the next Donald Trump. How can I fill in the extra 40% that I cannot afford ? I definitely don't want to rent out the extra rooms, I don't want the place trashed.
Any suggestions?? |
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Rush is a band
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Very impressive that a joke question got so many serious answers! The sarcasm just dripped from your question...
Oh - I mean...
Just take out an exotic mortgage. They have plans for people like you, you can get an interest only loan, or maybe even a neg. am. loan. It keeps the payments low. Maybe one of those 'you choose the payment' loans would get you into your dream house! It really sounds like you deserve everything in life without working for it or planning it out! Go for it! Take the plunge! Buy brand new - get a mortgage broker and trust everything he/she says! Don't ask about a YSP or the rate, just get an estimate on the monthly payment! You can always go 'stated income', they don't even check it!!
Maybe you should get into house flipping to give you the extra cash to pay for your house!
Have fun and good luck! |
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Lori S
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You could try selling whatever it is you've been smokin'.... |
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░Lem☼ny░
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I mean this in all honesty...Don't buy the house. I'm not trying to be a jerk or a downer..just real. Look; first of all if you're single buying a 5 bedroom house is ridiculous. Leave it for a large family to buy and start out with a condo; build some equity, then later look into buying a large home. If you buy this home I predict it'll be foreclosed on then not only will you not have "it all" but you'll have nothing but bad credit and bankruptcy. Seriously. As far as DESERVING it....no one DESERVES to buy a house they can't afford....Don't do it.. |
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117wstwd
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Why exactly do you feel that "you deserve it"? Where do we get this idea that we deserve whatever we want? We act like just living our lives and meeting our basic obligations (going to work, paying bills, etc.) entitles us to whatever we may want.
Here are the facts: You do not make enough money to afford the house payments.
Why would you think that this is a good idea? Clearly, you would not be able to make ends meet and would end up having to foreclose.
What McDonald's burger flippers do you know who are buying 4 or 6 homes a week? Most rent.
You DON'T deserve it, and you CAN'T afford it, and you're STUPID if you buy it anyway. |
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godged
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Don't unpack because you aren't going to be there long. |
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min77ion
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Look 1st,,,,People that R buying houses they can't afford R thes reason 4 the mortage crisis.....
2nd right now this is a buyers market,,U have the power to negotiate and get a house for even less than its worth...Take advantage of these people loosing their houses and pounce on the real-estate market......
If U can't afford it,,,don't get it............. |
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Musica
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I'd say that unless one of your friends is ready, willing and able to co-sign and share the debt load with you or are willing to take you in once you lose that fancy-schmancy house, then FORGET about it, and tell them to put it where the sun don't shine if they are giving you crap about not being a homeowner!
It sounds to me like your friends are talking out their butts...unless you are playing the board game Monopoly or you're buying for investment purposes (to rent out and risk getting the place trashed), NO ONE buys 4 to 6 homes a week...not even Donald Trump. That "deserving" stuff is the kind of propoganda you read about in financial "porn" like Forbes or Money Magazine or some slick "city" magazine...and it's been around since at least the 1970s. Great if you're a CEO making 6 figures, but totally unrealistic for those of us making under $30,000 a year.
Buying a house is a serious proposition that is not to be entered into lightly or on a whim. Wanting to buy a house just because all of your "friends" are buying houses has got to be the single most immature reason for wanting one. It's almost as bad as marrying or getting pregnant or fathering a child or getting a divorce just because "everyone's doing it."
Don't make long lasting life decisions based on peer pressure!
I've seen what happens when people go into full blown "entitlement" mode like you describe. I've had numerous friends and family members lose their shirts because they just HAD to keep up with the Joneses! Of the married couples I know, nearly HALF of them filed for divorce after they bought a house they couldn't afford. Also, if you are single...you don't really NEED 5 bedrooms and four baths to reside in all by yourself. Talk about utter selfishness and wastefulness!
Hence the main reason I remain a 46 year old single empty nester who will continue to rent till the day I die...and I would strongly suggest that most people do the same. I know for a fact that the most I could afford is a trailer, and I'll be damned if I move into one of those contraptions and call it a real house! Better to rent as far as I'm concerned.
Sure, there will be some snobs out there who will label me a "loser" because I'm still renting at my age, but I don't care what they think! While they're eating hot dogs and Kraft macaroni and cheese for the umpteenth time trying to afford their "money pit" and the taxes that go with it....and fighting with the s/o over the house and the expenses for the gazillionth time... I'll be out there enjoying life and traveling and doing whatever I want to do, and sooo happy I am not being trapped in someone's idea of the "perfect" life in the oh-so-boring burbs!
Bottom line? If you buy a house before you are ready, or purchase ANYTHING you really can't afford, then you will curse the day you ever saw that house or whatever item you coveted! You won't own your house, your house will own YOU! |
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s and d e
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my suggestion is don't buy a house!! if you can't afford it--you're just asking for trouble. remember, once you buy--you are responsible for everything--property taxes, homeowners insurance, repairs and maintnance--it's expensive. if you really want to buy--you need to cut out all your other debt and save your money. don't buy a house "just because everyone else is doing it"---grow up! |
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bibsian
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grow up !!!!
but hey " you want it all " so i guess you will go for it
best of luck
Ian |
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Wendy Jean
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I DESERVE alot of things I don't get. Geez, get real. If you can only afford 60% of the mortgage, how long are you really going to live there before you go into foreclosure? If you can't afford it, the bank will not loan you the money (PERIOD). I don't know what town you live in, but I don't know of anyone that is buying 4-6 houses a week, a burger flipper or a CEO. Your friends are not true friends encouraging you to go into debt way over your head and lose everything in the process. Why don't you try looking into houses that you can afford, I bet there are some nice ones out there in your price range. Its a buyers market, deals are waiting to be made, but you still can't buy what you can't afford! |
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oracle777
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I think this is called peer pressure. I want the same shoes she has, the same hairstyle, the same house?
First, when you're done with the honeymoon excitement with the new house, you'll feel lonely in it, because it's too big for you.
Then you'll end up worrying with all those new expenses and make your life miserable.
Even the richest people dine with their cooks in the kitchen, and hardly use the grand dining room, because the people make us happy, not things.
You have to discover what do you really want. Spend some time in meditation. |
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Beth C
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If you can't afford it don't buy the house. If you really want to then maybe you should get another job. |
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Feral M
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Throwing yourself in the deep end with a huge debt you can't afford is just silly. Look for something you can afford, or increase your income so that you can afford what you want. The bankruptcy court is full of people who "want it all". |
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turtlelove
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JUST be careful. you could get a great deal. or you could even up in forcloser. We are entering a recession, use it to your advantage. |
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IRIS
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If you can't afford it then don't buy it.
Do you really want to clean 4 bathrooms? lol |
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Jo
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Don't do it. There are too many people out there that bought over their budget and are forclosing - is that something that you really want? Besides, it isn't like you need that big of a house anyways if it is just you. |
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ronidl76
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I hear you. WE ALL want it all, and sometimes, a lot of people take the plunge, and maybe they're happy for the first 3 months, then, after seeing the reality of your decision, things aren't so rosey. You can get it, be happy with it, but after a few months of struggling to pay the mortgage, it will just seem like a space you could've done without. Your sanity is much more valuable. It's not like you can afford 90% of the payment, and will need to make up just 10% more. You can only afford HALF. Plus, I'm sure you'll go overboard with trying to furnish the huge home.
get the home, and another job...which you'll be spending more time at work than at your fabulous home.
get the home and get married...2 incomes is better one
get the home...with a GREAT negotiated price, and a very, VERY low interest rate
or
get another home you can actually enjoy.
Good luck. |
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DannoREA
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So everyone's jumping off the bridge, and you can't wait to hop off. Are you really that much of a sheep? Why would you want to get into a situation that could potentially bankrupt you and ruin your credit for years to come?
What an American sense of entitlement. What have you done to deserve it? Here's a tip - SAVE MONEY.
Start shaving your monthly expenses down until you're saving about 50% of your paycheck. It can be done. If you do this for a year, the market will still be in a strong position for buyers and you will actually be able to afford it. Until then, suck it up and save you money. |
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bud68
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Gee, you're a funny guy. |
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Kagome
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If you can't afford it then don't buy it. Its people that can't afford but still purchase that are the reason for the current housing crisis.
Take on a second job and put money away so that when you can afford a house, you can actually afford it. |
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Adam D
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you can do that here www.makeawishonline.net |
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Celine
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LOL. |
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C
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Either get a higher paying job or buy a smaller house now and make the house you saw your goal. Lots of people do that. Or keep your eyes open for similar houses - maybe that are further out - or a house that is similar, but needs a lot of work (they'll sell it to you more cheaply). You'll get something you like if you wait or work more - there will always be people who will try to get you to borrow a bunch of money - then later there is foreclosure. That is part of the reason our economy is in the toilet now - because lots of people defaulted on loans. Just be wise. |
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saeed q
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You do deserve it; don’t let any of these negative Nelly’s stop you. Make sure not to worry yourself about this and/or that consequence, you won’t know for sure unless you do it. You live in a country where you simply CAN take advantage of it, it’s your god given right and don’t let no one take that away from you.
5 bedrooms 4 bathrooms will that be enough? but you know what, it's just a starter home so it should be OK.
“JUST DO IT†|
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theshadow01
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LOL! Nice commentary on what many, many people have already done! This guy is joking people! Sadly, many who came before him were not and they are now in serious trouble. It speaks to the mindset of instant gratification that many folks have. |
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hippie chick
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sell any unwanted junk on ebay, get another job. |
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