How can i as a 19 year old young women purchase a forclosed house with little credit, very low down payment?
I am looking into purchasing a forclosure house in my area. It is listed for 28,160, im a full time college student, i have been at both my jobs for well over two and four years, i have a low down payment and nothing on my credit. I need help in getting this house, i need advice.
Asked By: Becca - 7/19/2011
Best Answer - Chosen by Asker
Your best bet at buying this property is a FHA mortgage loan. FHA has a program that you might has a down payment as low as 3.4% which in your potential purchase would be around $1,120. You would also have to come up with closing cost. In your offer you might ask the seller to assist with the closing cost... More
Answered By: loanmasterone - 7/19/2011
Additional Answers (3)
easiest way is a co-signer maybe with your parents or a close family member that has excellent credit. yea i know its a pain in the ass trying to buy something with a limited credit history but there's we can do to change how the system works... More
Answered By: Michael Hanson - 7/19/2011
The answer you'll get most is "you ain't got a chance... More
Answered By: br549 - 7/19/2011
Without credit, you're probably out of luck. Get yourself a credit card with a small limit, charge a few hundred dollars, and spend 6 months making timely payments. This will help establish your credit. Also, check to see if your state has a first time home buyers program.
Answered By: BeachBum - 7/19/2011
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