Real-Estate Agents! Help! Tips! Advice!?

My question is simple. I am 18 years old. Is there even a remote possibility that I could buy a home?


The reason I'm so anxious to purchase a home so early is that I currently live at home with my mom. However she has no intentions of moving out of our current apartment, which we rent. I've tried time and time again to convince her that she is throwing money away by renting. She has expressed to me that she would pay the mortgage on the house or condominium if I could get approved for the loan. Is there anything that I could do at my age? Or am I aiming too high? Any tips and advice would be great! Thanks!Real-Estate Agents! Help! Tips! Advice!?
Well, first you need to be prequalified for a mortgage. The old saying is, 18, sane and sober. If you have employment, and cash to purchase, there is no reason you shouldn't qualify for a loan. If you have never purchase anything on credit, then you need to establish that first. You can do that by having a credit card and paying the balance each month. After 6 six months, it gives you a good foundation to start the prequalification process for a loan.





To select a loan company, I'd pick 3 different ones. Learn and understand all the different loan programs they have and select the one that best fits your financial situation. Make sure what they tell you is true, get it in writing. Don't mess with an ARM (adjustable rate mortgage).





Once preapproved, select 3 Realtors that have either a CRS or GRI designation. Interview them, and select the one you feel honestly understands what your needs and wants are.





You should also make a list prior to interviewing the Realtors, of what you must have and would like to have in a home. It will help them in select properties for you to look at.





If I can assist you further, just send me an email! I'm listed.Real-Estate Agents! Help! Tips! Advice!?
Congratulations on wanting to own a home and stop throwing away rent money. Keep aiming high. Keep chasing your dreams.





Now, first, you need a plan. And you need to talk to a lender and/or realtor to get some help with your plan.





Do you have an income history? In other words, do you have a job and do you have a history of having a job? Have you saved any money for a down payment? Do you have a credit history or do you need to start one now (obtaining a credit card, using it and making payments on time).





Your mother offering to pay the mortgage is not going to get you qualified for a loan. Your mother co-siging on a loan, if she has a good credit rating, income, savings, etc., can help, - or offering a gift of $$$ for the downpayment - but essentially YOU are trying to qualify as the homeowner, not your mom.





Make an appointment to see the mortgage officer in your bank - or a lender recommended by a friend or family member - to start the ball rolling. Ask about first time home owner programs - most banks and Counties have them.





Then, when you have a plan that will work, and you know how much you can spend, get a good realtor to help you find the right starter property.





Anther option for you might be a lease-to-own or a lease-option, where you make monthly lease payments, part of which will go towards the eventual purchase of the property, if you choose that option. Your realtor can help you find those, as well.





Good luck! Best wishes!
If you have twenty percent of the house value saved up, you will be able to buy. If not, you will want to put away some money each month, and focus on keeping a steady job. To build credit just take out two credit cards and put small balances on them, then make the payments each month.
The first thing I want you to know is that pretty much anyone can buy a home today. As long as you have a means to make the monthly payment then you can always make the purchase. One thing you and your mother can consider is buying a home with a Lease to own or rent to own option. Many sellers are willing to rent you their property with the option of purchasing it after a certain ammount of time.