maroonfive
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good for you for thinking responsibly. i highly recommend that you speak to a mortgage specialist that is reputable and honest. also speak to real estate agent that you can trust. ask all kinds of questions.
good luck :) |
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Christian J
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rebuild your credit...get a few credit cards...cut them in half and ut them in an envolope in your closet...your credit will go up... |
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Baby G
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If you do find a lender you will probably pay a high interest rate. If you have a co-signer, that may be a possibility as well.
You should build up your credit. I had a poor credit score two years ago but worked on it and now I qualify to buy a home. |
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Mary
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By providing a big down payment, this usually helps your interest rate...also you can buy the house cash if you can. |
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RickshawNYC
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Hey i just asked a similar question and im not sure if this will help but when i went to get my car loan they said no but then when the saw how mush i had to put down they were happy to give it to me because of how i had saved. Also, 20 percent is a lot so i think you will only need a small morgatge and could build up credit quickly. |
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gardeniagirl07
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Instead of going with a loan or mortgage company, perhaps you could find someone who has their house for sale by owner. They might be willing to work with you whereas a mortgage company may require more money down. With the amount of houses that are for sale in today's market, you may be able to lease a house for a year and then get the owner to sell it you. I had friends that did this although the economy wasn't as bad as it is in today's current financial market. |
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LaSmiley
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The thing is that with this economy crisis...banks do not really want to give out loans to anybody...and then that thing about you barely starting your credit is not going to help...you are most likely going to need a co signer and a lot of money for down payment....it is really hard to buy a house when you are barely building your credit |
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cstout95
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Nope. |
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poppy1
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Hi Angela,
Have someone like your mom(with good credit) co-sign for your load. Other wise you won't get your load. You are just starting out and haven't build your credit up yet.Even with 20% down a house load is usually for 30 years.
I hope you get your house.Good Luck.
Your Friend,
poppy1 |
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just some guy
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if you parents have good credit and low debt. they can put you on a few of their credit cards and you will have their credit in about six months. or just apply for like two more cc and and wait atleast six month. |
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GTH
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Keep building your credit until the banks see your worthy for more. |
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RM
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"rebuild your credit...get a few credit cards...cut them in half and ut them in an envolope in your closet...your credit will go up..." |
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♥
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rent, |
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mapaul04
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Not likely with the current economy... assuming you live in America |
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ZelosWilder
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If you don't have credit you'll have to buy your house with cash or wait until you do have credit.
You might be able to get multiple smaller loans though. But that would be kind of inconvenient I suppose.
They don't have to lend to you because of the housing reinvestment act, they just get an incentive to, and they can still refuse to lend you the amount you ask for. |
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Rick
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Not with this market, you best is probably buy a house or even a apartment for now that you can afford. In my area, the lender won't even loan your money if you just pay 50% down. they wanted 2/3 or more. |
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Derek
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Probably not, especially given what is happening with the economy today. Look on Ebay for a house...one just sold a month or two ago for $3.75, I believe. If you don't mind living in a boarded house in rural Texas or Michigan this could be a steal! |
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Wafflecopter
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They actually HAVE to give you the loan.. look up the community reinvestment act, they are required by law to give loans on homes with very little credit. |
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TheLonelyBlueBird
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You could always marry some rich guy and he'd already have a house. |
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