Credit Help Forums

sublipdick · #1 03-30-2007, 08:46 AM

I only make about $25 grand a year and have tried to get a loan but I cant due to low income. I have roomates that will move in with me to help with the bill.

I heard something about a contract where they will look at my roomates income as well as mine to help me get the loan. my credit is in the 690's.

I was looking for a 30 year fixed now down payment or the down payment included in the finance and depending how long it would be before the first mortgage payment mabey $645 down.

I would like to strike while the market is in the buyers favor. any help to get me in a house and out from renting would help a bunch. I know the stories abut what if they leave but thats what the contract is for, If a loan like this even exist.

chandni_aqua · #2 03-30-2007, 11:39 AM

hi, your credit score is really good so u still ve a chance of getting a loan.. try looking for some good roommates and u shall get started..

chrissie1101 · #3 04-02-2007, 04:28 PM

I have never had money situations with friends that ended up well. So that being said, dont do it. I agree with the PP, you have decent credit, it never hurts to ask. See how much you can get preapproved for and take it from there. You odnt want to get stuck with a house you cant afford, that is the fastest way to get into big trouble.

freddyb45 · #4 07-23-2008, 04:30 AM

I would not recommend getting a mortgage with room mates! Things always go wrong with friends when money is involved.

marsh · #5 07-29-2008, 07:11 AM

I totally disagree with you, but whatever…it’s the way you think and everyone has their own way of going on in life.

Steve K. · #6 09-12-2008, 03:29 AM

If your going to use their income to help you qualify then they will also need to be on the loan, no other way around it.

snyk99 · #7 09-12-2008, 02:26 PM

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qploans · #8 09-22-2008, 12:41 AM

thanks for the posts

muthu125 · #9 09-29-2008, 02:43 PM

I can email you a rental agreement whenever you are ready. I hate gyms and have sworn to never join one. Their salesmen are scum. Jeff thinks realtors are the bottom of the food chain. I say it's mortgage brokers and gym membership salesmen. The last time I tried I wanted to pay for my membership at once, and not drag it out paying interest. They wouldn't let me do that. I don't like paying 20% interest, so I walked away and never looked back. I also figured that the time spent getting ready and driving, I could just load up 70 pounds of kids in my double jogger and walk 3 miles, be back home with my weight and cardio done in one shot.
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Muthu

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