2007-03-11 14:02:03 · 4 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
Depends on where you live...look for a lease to own deal where some of your rent is put toward the down payment. This is a buyers market right now. Sellers will be more willing to negotiate especially if they are anxious to sell.
2007-03-11 14:10:20 · answer #1 · answered by SUSAN K 3 · 0⤊ 0⤋
When defining "average" income, how does that compare to your income? For example, if you are making $30,000/year, you may have a much more difficult time getting a mortgage due to the $40k debt.
Pay down as much of your debt that you can. Get a second job if you have to. That way, your debt decreases and at the same time, your credit rating will increase. Two birds one stone kinda thing.
2007-03-11 14:59:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you do get financing it will probably be at an interest rate much higher than someone with good, established credit. Look into buying an equity and assuming a loan. Have did this several times and have also sold a couple of houses this way.
2007-03-11 14:16:11 · answer #3 · answered by cwagley@sbcglobal.net 2 · 0⤊ 0⤋
I'm sure you can find a mortgage company to finance a home for you, but it might be beneficial to get your debt down before trying to buy a house. It might also be harder to get financing since you just started a job therefore you wouldn't have the job history that sometimes they look for.
2007-03-11 14:10:27 · answer #4 · answered by First Lady 7 · 0⤊ 0⤋