i am thinking about buying my first house. the only way i could afford it is to have roommates. would their rent be counted so the bank would give me a higher mortgage?
are there any good websites to step by step a person through buying their first house?
2006-09-26 17:37:43 · 3 answers · asked by sprout_54880 1 in Home & Garden ➔ Other - Home & Garden
It can be in VERY few cases, and it's NOT likely that it will happen in your case, especially from what you describe.
2006-09-26 17:45:42 · answer #1 · answered by cyanne2ak 7 · 0⤊ 0⤋
No!
Buy the most expensive house you can afford on your own
rent and pay as much into the mortgage as possible
in 2 or 3 years you can buy a bigger, better house
with the equity from the first house
2006-09-27 00:58:29 · answer #2 · answered by rvsreno 4 · 0⤊ 0⤋
buying my first house scared me to death, afraid I would do it wrong, not be able to afford it, etc. 38 years later, I still have that house and four others. Yes, on your liabilities and assets, list the rental income (even projected). Buying a house is pretty simple. Settle on a price with the seller, pay about $400 for an inspection. negotiate for repairs needed. Make sure a title company does the closing, Unless you go through a Realtor, then they will take care of closing.
2006-09-27 00:54:53 · answer #3 · answered by T C 6 · 0⤊ 0⤋