why is it so hard to buy a house? if u have a steady job why dont they hook u up?

Question

ive been readin and it seems everything points to needing huge downpayment or crazy monthlys....why so strick? think im gonna go bankrupt or never work? sorry, ranting

Answer 1

If you are a first-time homebuyer, you might be able to find a program that requires a very small down payment. I would check with your area banks and see if they can hook you up with government programs that are out there to help people make that first home purchase. I know that it can be frustrating when you're going through the process, but the banks are just looking to protect themselves.

Answer 2

The bank doesn't know you at all, so all they can do is look at your salary and people who are in your situation. So many people default on their loans (30 years is a long time, jack) that they have to be careful about who they loan to. So don't take it personally, they just want to have some kind of assurances that you're as responsible as you appear to be.

Answer 3

If you have bad credit, then you have no business making such a large investment. Morgage companies do not have free money. When people dont pay their bills, the costs get passed onto those that do. The debt does not disapper.

If you dont have bad credit, then you dont have so many problems. But that is the perk of being a responsible adult.

Answer 4

You might be a little young, not job stable, lenders have many things they look at. You should be able to buy something with a good job, been there, etc. for a while.

Answer 5

all you need to know on mortgages, buying and loans in this article that should help you out more

Answer 6

try a first time buyers program. almost every place has this. you might have more luck that way.