How to finance a house?
Can an 18 year old get a $75,000 loan and finance their house and land through the bank? What is the best way to go about doing this? I use Wachovia. Any other bank suggestions? Also to buy a house and car, you need good credit. At the moment I am 17 and trying to figure all this out ahead of time. What should I do? Is there a way to get my own good credit or should I piggyback? Both my girlfriend and my parents have typical to low credit scores. Help?
Public Comments
- One of my first home buying clients was 18 when he bought his first house (he owns 3 now and is only 24). He had no credit history but utilized a special state government program (that is still available) in conjunction with an FHA loan (that is less dependent upon credit scores to gain approval). I suggest you be proactive and talk to a mortgage banker on your 18th birthday to discover what options exist for you. You will need some money in the bank to cover a down payment and closing costs and of course a job with a work/income history. It is possible. Car loans are different and do require a credit history and an income. But no lender is going to allow you to originate a piggy back loan to acquire both unless you are fresh out of medical school
- Hi friend There are many companies , that offer credit report, but I would suggest you http://GoCreditReport.info , because they offer this service free(no hidden charges) .They are one of the best companies .They also offer credit monitoring, id theft alert, and many more things... Just Visit: the link and signup . Hope this will help
