How to buy a house when you graduate college?
I'm still in college but I would like to get a head-start on learning what I have to do to buy a home when I graduate. My fiance and I will graduate next year, May 2011. We know where we want to live as we both have pretty much found jobs in the area and it's also where we grew up so our families are nearby. We currently live in an apartment that my father owns, so we live there for free until we get on our feet. Once we graduate we can stay there as long as it takes us to get where we need to be financially. It's a huge help and I am so thankful because of it. But eventually we want to get our own home. Here is some information I have about us: --I'll have about 19K worth of college loans when I graduate, he will have about the same or a little more --I'll start out making around 30K-40K a year with my communications job. He is looking to get a job with the state: mechanic, sheriff or corrections officer. --I have pretty good credit. I have one major credit card, a cell phone, and Kohl's Dept. Store credit card (this has a 0 balance, we pay it off every month) --We do not have children. --We would like to buy a house in the 100K-295K price range. Am I leaving anything out? I can put more information if it would help? Do you have any advice, experiences you'd like to share? Anything would be helpful. We're just concerned about how we're supposed to start our lives with all this college debt under our belts. We've been told about consolidating and FHA loans, anyone familiar with these?
Asked By: ~Kay~ - 2/8/2010
Best Answer - Chosen by Asker
You need good credit, a job, and a down payment... More
Answered By: Thundre - 2/8/2010
Additional Answers (2)
do not try to buy a house SO SOON. Get geographically and economically acclimated first... More
Answered By: kemperk - 2/8/2010
What is important is the debt payment amount, not so much the actual debt. If we assume your fiance will make about the same as you say 35,000 and you do the same that gives you about 70,000 combined income. You really should have about 20% to put down on a house but loans are available for considerably less. With... More
Answered By: Don - 2/8/2010
(84) Real Jobs Paying $18-$96/Hour- Available Now. Apply Online!
$47/hour Part-Time Job Openings. Requirements: Must Have Computer.
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
Other Career Questions
Do most mechanical engineering jobs offer job security?
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.