Who on earth would give ME a mortgage????

I would love to buy a house. Or even a flat.

I'm 20 years old and I reckon that if I buy a property now, then it would be a good investment for the future. I think it's a good idea.

But I wouldn't know where to start. And I've worked out that I'd get a mortgage for a little over fifty grand. Which, although a lot of money, still isn't enough to buy a caravan, let alone a house.lol.

Seriously though, it seems like everything is against the young, and first time buyers haven't got a chance to venture out.

Any advice? Please?

I'm not too sure about my credit history. I get alot of credit card stuff in the post, if thats anything to go by.

I have 2 loans, both are in the process of being paid off, and I haven't missed any payments, which I guess is good.

I work as a manager in a bookies, I earn just under 拢17,000 annually, and that is more than likely going to go up rather than down.

I rent a council flat which I hate, but it's somewhere to live and better than nothing.

I just want a good deal.

First, how is your credit? It's more a credit issue than an age issue. Second, how is your employment history? With today's economy, that's a really important issue.

From my experience, as a second time house buyer, I was certain I would not qualify for a mortgage at great rates. Since I hadn't bought a house in 10 years, I was recently divorced, making very little money, I knew nobody in their right mind would want to finance me. I figured, as much as I hated the thought of renting, it may be the better option of the two (I was currently living with my parents with my two children).I had called about a rental, knowing it was out of my range, but I was desperate. It so happened that I was talking to a real estate agent. She ran my credit report, showing a 797, 802 and 809. She said with that, I had no worries. So, together we found a home and I have been here since June of 2005.

Words of advice, be sure your taxes and insurance are included in your monthly payment.

Go for it - you sound like a 20 yr. old with a head on your shoulders and are ready for the homeowner responsibility. Do your research and be sure you are prepared financially. Good luck!!

You could possibly qualify for a home. As a first time buyer there are actually many options for you. Feel free to email me with any questions. You can complete an online secure application on my website 24 hrs. a day. You will need to email me for the website as I don't think I can post it on this website per site rules. lowermydebtnow@yahoo.com

Best Regards,

Anthony

If you have at least a two year history of stable and dependable income, and a good credit history and live near a rural community, you may qualify for a 100% financed loan with the USDA, Rural Development Agency. Go to www.rurdev.usda.gov and click on single family housing. You should have a Rural Development office near you. A loan specialist will be happy to assist you with the loan process and let you know what loan amount you could qualify for. The loans are subsidized based on your income and household size so you can qualify for more loan. They can explain the details to you.

It is actually a good time in your life to buy a house. Hopefully you have little debt, and a decent income even $15 an hour would give you enough to get into a house. If you dont make that much, its time to consider putting some effort into your futture. I have personally worked a full time salaried job a had two part-time jobs all while serving in the Army reserve. If you have a low paying job, then you need to invest in your education and training. So work and train at night. I don't know what you do for a living but there are many ways to make money, you just have to think about it. Now back to buying a house, first time home buyers qualify for an FHA loan where the federal government pays part of your down payment and closing costs

Oft times, for the young, an owner financed is an option. Have your person look over the contract, if it is relatively the same fixed interest rate and the seller is well known and all speak goodly of them, there is your first house.
There are any number of ways to work it out, that is one that I know of and have used. I am retired now, and live in a house that is my home.

Step 1. Speak with a local mortgage professional.
Step 2. Hire a real estate professional.
Step 3. Buy your home.