Can I legally buy a house when im 18 or 19 in Los Angeles?
I'm 19, my friend 18, and my girlfriend 18 1/2 all live in LA and yes we all have jobs I make $2,156.00 a month My friend makes 1,891.00 And my girlfriend makes 2,450.00 a month Yes I do have a saving I've been saving money since 6th grade so I got 10,000.00 in case of emergencies. So I'm 1
Asked By: Riley Smith - 4/20/2011
Best Answer - Chosen by Asker
While you can legally execute a contract at 18, it really doesn't look like you'd qualify to buy a house. (And many banks won't do a mortgage unless you're 21+.) It is very tough to get mortgage loans right now, not only do you need to have enough down (20% likely for you), you need excellent credit. No credit is not... More
Answered By: maliboo_girl - 4/21/2011
Additional Answers (5)
Yes you can, but you might find it hard to get the real estate agents to take you seriously, or the bank officials (if you want a loan).
Answered By: Marcus - 4/20/2011
If a lender approves you for a loan if you do not have enough money to purchase the home outright then yes you can legally buy it at age 18.
Answered By: CountryGirlDeputy - 4/20/2011
If you got the money, then yes. However, I don't think $10,000 is enough just for the down payment.
Answered By: мᴀD Dσɢ - 4/20/2011
yea in inglewood or compton
Answered By: Jordan - 4/20/2011
You're certainly old enough to sign contracts. Talk to a real estate broker about the fiscal part of it. Good luck with it.
Answered By: Dances With Mops 2 - Mop Bucket Boogaloo - 4/21/2011
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