Home mortgage to me?

Deal Score0

I’m 20 and lowering the credit rating. Looking to buy a house near the college campus in my town, but I wonder if it is still possible. I obviously need to make a loan, even if I’m about 20% down payment right off the bat. I seek to live in it for the next 3 years you get a roommate to help me understand the mortgage. After that I intend to let other students allows me to continue paying üüri.Minu main question is, give me advice on this process? I think it’s a bad idea? I regard it as an investment, because a house near campus, the cost of the 100% increase in their mortgage payments tenants entries. Does anyone know if this is even possible in today’s world of 20 years to get a mortgage? Any information would be appreciated, thank you.

3 Comments
  1. Reply
    Caveat Emptor
    April 30, 2011 at 1:05 am

    Bad idea. Do not get involved in real estate while you are still a student. Get your education completed and your career started first.

  2. Reply
    Dash
    April 30, 2011 at 1:27 am

    Decent credit score of 750 would not get you a mortgage. You do not have a full time job and two years steady employment.

  3. Reply
    Beverly S
    April 30, 2011 at 1:29 am

    You need a 2 year job history – credit at least 620, and you must qualify only on your income- you can’t use rental income unless you had 2 years tax returns showing rental income. I think it’s a great idea personally.

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