|
|
| *Ostroff, Fair and Company>>>Renting & Real Estate |
Is it possible for me to buy a house ? |
Hi, I'm still in college and well I hate moving around because we have to rent. What are the ways that I can buy a house ? Thank you You need credit, income and assets necessary to qualify for the loan. Or the cash to do it outright. see a financial consultant. he will tell you. if you are in college, then chances are not to buy. You have to have good credit, a job and probably a co-signer and someone to finance it. That depends on many factors... Do you have a steady annual income that would be at least 3 times the purchase price of the car. Do you have a decent credit score??? More than 680 Do you want to stay in the area when you are done with school? Can you afford the costs of maintaining a house (utilities, property taxes, repairs, ect) Are you willing to put in the time to maintain a lawn (as required my most municipalities? If the answer is yes to these questions you could possibly buy a house. This is very smart. Depending on income level and credit and the fact that you would need a job to qualify for a mtg., you may need a co-signer. Convince your parents that its the way to go. Buy a 3BR-4BR home close to campus. Your 2-3 roomies will be technically picking up the parents mtg payments and after 4 yrs of college you should have some equity in the home where they can sell it and pay off your college tuition or keep it and continue to rent it to other college students for years. Yes, it may get trashed but buy a fixer upper and and before your roomies pack up for the summer make sure you fix it up, paint the walls, etc. Put those chumps to work. Bought and sold 11 homes throughout MI college towns, ie E. Lansing, Kalamazoo, and Ann Arbor. |
| Tags |
| Canada Taxes Australia Taxes Small Business Renting & Real Estate Personal Finance Investing |
Finance Categories--Copyright/IP Policy--Contact Webmaster |