can you get a home loan and be 17yrs old?  my wife thats 23 will be going on the loan.  im only really needing to go on the loan for more income.
119893
The laws are clear on this issue; minors cannot sign legally binding contracts.  If its a matter of income, you're broker should be able to help.  If you went directly with the bank, they'll just throw you a list of requirements w/o any help, so you're kinda stuck.  If its an ownership issue, anyone can be added or removed from title to prove proper ownership.  This is tricky because you don't want to lose a deal, feel free to contact me for further advice.
386609
You should check your local classified adds & online adds to find sellers that will finance.  That way the person selling the home will be your "loan company".  Why would they sell you their house/and finance it if you have no money down and bad credit??  Because your monthly mortgage payments will be hundreds more than they could rent it for,and because they can easily forclose on you if you dont make the payments--Which some of them count on so be carefull.
404900
why don't you look into a lease-with-option-to-buy?  you can rent from the owner, but a portion of the payment goes towards the down payment on the house.  then, in 6-12 months, you can purchase the home with some money down.  remember to negotiate the purchase price upfront when you enter the contract.\n\nbut, there is no mortgage product that allows you to get the cash now and not have the loan secured by a property.\n\nlast suggestion would be setting up a direct withdrawl from your paycheck, and have it put into a savings account.  maybe if you don't have to actually bring the money to the savings account, you won't miss it.  good luck... homeownership rocks!
422858
have you checked on deferment. They have a lot of options. You can get it deferred if you are underemployed (not making a lot). They also have a income sensitive repayment. You pay 4%-50% of your monthly income at long at it is at least the interest. You can also pay interest only for up to 4 years. Interest will accrue but look on the bright side..when you die, it's paid off. I would contact the place you have your loan and ask them about these. If you have more than 1 loan, I would consolidate them and just make one payment.
58640
1- You are looking at a rate of 6.25% in IL. I ran it through Provident Funding as a 30yr fixed, full doc, 80% LTV/CLTV, second home, $288,000 loan amount, with a 21 day lock period. This assumes all the information you supplied is accurate, and that your DTI (debt to income) does not go above 50%.\n\nThat is a rate that the mortgage company would be ok with selling you. If you are being quoted higher than that, then feel free to talk to me and I will let you know if you are getting a fair deal or not.\n\n2- Your Mortgage company can usually get you at least as good of rates as your local bank, unles you typically carry a very high ballance with them. You would be surprised ... you Mortgage Company is propbably signed up with your bank to do loan through their wholesale side, as opposed to your retail rates they would offer you direct.\n\n3- When a good time to go through with it is completely up to you. If you are in a situation where you can offord it, and are comfortable with it, then do it now. No one can make that decision but you.
569497
You can get it, just not a good rate with your current score. And there are ways to boost your FICO scores in a few months. I can help you with it. I work with a big direct lender/mortgage broker doing business in 48 states, and because the huge volumn of business we do, we get better rate than smaller brokers. We have over 200 loan programs to meet the needs of different situations, from good FICO score and good income and down payment, to poor FICO score and NO income (called "stated income") and NO down payment, so I will be able to find the program which best fits your needs. Contact me at xjuy@yahoo.com or 408-476-0455 and I can help you. Jessica
633836
Consult a local mortgage broker.  Check your yellow pages and make an appointment with a loan officer.  Each individual's situation is different and there are a lot of variables affecting the loan process.  Only a detailed look at your credit history, employment, assests, and the home itself can get you approved for a home loan.\n\nBut...even if you get it, why would you pay it off in the spring?  I assume you plan on a lump sum of cash coming from somewhere, but KEEP IT!  Use the mortgage to your advantage (tax benefits) and put that cash into something more profitable.
132913
I'm at Countrywide on a 5/1 arm at 5.125, but your loan is only as good as your loan officer.  Gotta listen to what your needs are and then everyone offers similar stuff - then it's how you qualify! good stuff!  I've been doing this for years.
645515
no sorry i haven't and i lived in pa my whole life. sounds rough though and another good reason not to risk your home to finance something else, sorry i hope it works out for you. hopefully your spouse will have the descency to realize loan or not the home is yours and they shouldn't mess with it.
303875
Call your local bank and get pre-qualified for a mortgage.  Ask them about what grants are available in your area, at your wage level etc..\n\nI qualified for two grants when i bought my first house.  one was based on my income level.  the other was based on the location I was buying my new house.
635979
Hi! I deal with a similar situation between my husband and I. Therefore, you are totally NOT alone! There's no reason your wife shouldn't be able to obtain a loan since she has great credit. Unfortunately, as you already know, your chances are not as good. Don't fret though, you'll eventually build yours up. Be grateful your wife has great credit. Some couples have no help as they both have horrible credit, you know?! Just go forward with processing the loan in her name, regardless of her income. A bank can better advise you too, so seek their help. You'll never fully know till you try. So go out there and get you a loan! Good luck to you and your wife!
342313
i currently work in loans at a bank, and along with her mortgage she can also get a home equity if she has equity in her home, buying for less than the property value, also need to check for covenants to add on to her home, there are lots of options out there, maybe she needs to get a second opinion from another bank not involved if the current one doesn't want to help. good luck!
562733
I will preface my answer by stating that I am a licensed Realtor® in the state of Arizona.\n\nIt sounds to me like you have your act together even for a person of your age. I commend you for your way of thinking.  \n\nPersonally if it was I and I could make the financing and the payments work I would buy now and start building some equity.  Between the amount you will pay down on the principal on your loan (it won’t be much at first) and the appreciation of the value of your property, you will be able to move into something higher in value in the future.  \n\nI don’t like to get into financing so much as I don’t have the training for it, if you find yourself a good Realtor® and/or lender. They will be able to guide you through the process of getting financing as well as finding the right home for you. \n\nGood luck in your search for your home\n\nP.S.: If your lease is up in October, you will need to get going on the process now, as it usually takes about a month to go through all of the inspections and closing.
465149
you likely have a bunch of equity in your home.  The value of your house has likely risen plus you have been paying into your mortgage.\n\nTalk to the financial institution that provides your mortgage, you'll likely qualify for a very large loan.
116590
If you have excellent credit you can apply for a "stated" mortgage. That is where you "state" your income but don't need to document it. It will cost you another .25-.50% on your interest rate but you will be able to buy a home.\n\nGood Luck
271927
I think you have a lot to take into consideration here. First and foremost you should know how your credit report looks if you have a spouse you'll need his too. You'll also need W2's from the last 2 years from your job,tax W2's will do, proof of income and earnest money to put down when you sign a contract at least but no more than $1,000.00. The most important thing to look at right now is the interest rates. The better your credit the better the rate you'll get. Please go to a local bank or other surrounding banks and see if they could lock in a low interest rate for you why you shop around. They don't have to know exactly when you're going to buy. When buying your home always ask the seller to pay for your down payment and closing costs. The way to do this is to give him or her close to the asking price when you bid and stipulate in the contract that they are to pay your down payment and closing costs. Usually if they are getting close to full asking price they'll take the offer because they were leaving room to come down anyway. When looking at homes don't show to much emotion especially if you really like a house because if you do they'll know you really want it and they may not be willing to negotiate with you. Showing a lack of interest while your in the home is always better, even though you're dying inside to make an offer. It'll be in your best interest to wait till you talk to the realtor if you choose that route to show your enthusiasm. You can always buy a forsale by owner home too! It's less complicated and easier all the way around. The seller will and should be the one to get the lawyer to handle everything. This is quite simple, because you can call the lawyer and see how everything is going to. They do the appraisal, title search, closing and anything else that needs recorded and done. Before you know it you'll be sitting in your new home. I'd start now so you have everything in order. The loan already approved is the most important thing of all. Ask some people who have mortgages with banks not mortgage companies for referrals. Mortgage Cos. have a lot of hidden fees that you have to pay where as a bank doesn't. Good Luck...Happy House Hunting.
400552
I won't rehash the advice given by the first two answerers as it is spot on.  \n\nJust make sure you two plan on being in the same area for a good amount of time.  How long have you been married?  Of course the only concern is you are both so young, and if your plans change or one of you decides to go to college, it could create a mess for you.  \n\nBut as long as everything remains stable, owning property is always a good thing.  I just bought my first house with my girlfriend and I was 26.  Just turned 27.  We had a great experience.  We bought a house that needed a little work.  Got a great deal and with a little cash and sweat equity it is in great shape now.  \n\nGood luck!