Mortgage help file thin “a little credit?

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I’m 19 and my girlfriend plan to marry and we want a house, we work full time doing roughly around 15,000 and 25,000 per year, it will also move his mother, who receives about 12,000 years and mortgage assistance. My girlfriend has bad credit, because there is no health insurance, medical bills, and both have lived in the city left its usefulness six years old addresses in one place, then it is due Thousands of utility, and his mother are in the same boat. I am currently studying full-time college and I work very hard when my girlfriend and I want us to be able to get a house. The document will be so little, but I only have good credit for my car payment is paid on the life time of 10 months of the loan, which is 2 years (for a total of $ 2500) even if I am saved and is paid in February, however, and the only thing my credit is my student loans (totaling $ 8,250), which I also have a good reputation, I know all this because I checked my credit report, but not my credit score, because it costs money and I do not have a credit card, even if I tried to find the map and dismissed the only other double-check my credit when I was looking for a car and my bank twice trying to get a credit protection project, and my car loan is a co-signer. I no longer live in my mother but my rent is not the name of all invoices, but only since July this year. Market House, where I live in a nice house around 50,000, we can not make an important contribution to make, but you want to take only ten years and the loan rates were up 9%. We have heard, does not extend the 8000 first-time home buyer tax return until April next year, which would be nice to pay for the house earlier, but we would certainly like home before next summer, and 8K would be nice too, but what things should I do to try to get this achieved. Do get a credit card annual fee and still pay the balance a good idea, because I thought, maps you have to pay is a scam or does not understand credit reporting and how do I get pre- approved and would be a good idea at this point, or would be a waist of your time and do my worst score?

4 Comments
  1. Reply
    Gorkbark Porkduke Gefunken Fubar
    April 30, 2011 at 1:02 am

    Even people with excellent credit and excellent job history (you need two years in the same line of work) are finding it next to impossible to get a mortgage. Any blots on the credit and forget about it. Banks have screwed up the economy so bad and have thrown so many people out of their homes and caused them to lose their jobs, and I’m talking multiple tens of millions of people, that no one qualifies for a mortgage any more. The best thing to do is to wait and build up your credit, save for the minimum 20% down payment*, and then come back to the idea of buying a house in 3-5 years**. The bursting of the housing price bubble is not over yet, so house prices will continue to decline for a couple of years at least. Plus, another massive round of foreclosures will hit the housing market in the next year or two. Add that to perhaps as many as 400 more bank failures and you see the market and the economy is basically dead for the next few years, with a better than even probability that it will never recover at all.

    Add to this the problem of the huge and rapidly growing national debt and the very real possibility that the government of the US could collapse (rendering the dollar worthless) and the break up of the United States as a country as a result of this crushing debt and the problem becomes one more of basic survival. There will be no financial system in the US in a few years; there will be no United States for that matter. The government has essentially destroyed itself, and with it the banks and the dollar. There will be no mortgages because the whole system will collapse, so home ownership will depend on brute force, willingness to fight and kill and to defend with force of arms that which you manage to obtain. The sales of ammunition and guns in the US have skyrocketed as people stockpile weapons and ammunition for the coming Armageddon.

    The American dream is over. You are coming in at the tail-end of the idea of home ownership as an American right. Now it will be a matter of who has the greater force and willingness to use it.

    Good luck.

  2. Reply
    My Take on It
    April 30, 2011 at 1:48 am

    If you were to qualify for a mortgage before next April, you would only get 5k on a 50k house purchase. It is up to 8k or 10% of the house price.

    You are going to have a hard time qualifying with your income and their bad credit records. I would still talk to your bank or to a lender and see what you all would need to do in order to qualify and take those steps as soon as you can to be in a position where you could get a mortgage. For an FHA loan you would need 3.5% down. The only zero down programs anymore are VA or USDA rural loans.

  3. Reply
    I gotz that wicked clown love
    April 30, 2011 at 2:27 am

    o lord do you need to use punctuation!!

    so confusing. sounds like you are gonna have a hell of a time getting approved….

    you need to just call up a lender, like bank of america, and see what they can do for you. dont be shy, they do this for a living!!

  4. Reply
    Miracles Happen Every Day.
    April 30, 2011 at 3:07 am

    Try http://www.esuperfind.com/lowermybills.phpp?id=hra0tt16koo9 the actual lending firm is an Experian company BBB approved so very safe.

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