What a fucking joke

Get started on suckin' them dicks after your gigs.

>>18074657
Find a co-signer or get a card and start building credit. Yes, it is this fucked, no, there are no real ways around it outside of moving to bumfuck areas where you can get loans a lot easier. The only true way to have the freedom to move where you want and get loans where you want is to build your credit. Renting does not really do dickall for you. Sorry to say anon, I agree with you wholeheartedly, but at 30 I'm finally getting my first credit card to begin building since I refused up until now and I wish I had just given in and done it earlier.

>>18074665

Jesus fucking christ. So someone is actually going to look me straight in the face and tell me that my options are:

1. Get a credit card you don't want or need so that you can apply for debt you don't want or need
2. Pay rent that is more than twice the amount of a reasonable mortgage, essentially paying someone else's mortgage plus a few hundred more dollars
3. Continue living in your parents' house

It defies all fucking logic

>>18074679
There are other options outside of credit cards/gas cards/etc., but they all revolve around the same logic. You're paying arbitrary amounts of interest on a loan to have an agency report to the credit bureaus that you're a "reliable and timely bill payer". Paying for things with cash/debit and only buying what you know you can afford to live within your means for 30 years makes you a high risk investment. It's a joke. I made amends with renting after my first year or two, simply because in the long run it gives me more freedom to drop whatever the fuck I'm doing and leave when I want if it really comes to it, which is a nice flipside to paying into a longtime investment instead of just paying rent. I moved like once a year to every 2 years for jobs or just because I wanted to up until like 4 years ago so it worked out well.

>give me a loan for 100ks of dollars, I'll pay on time I promise just trust me :^)

YOU are fucked if you can't understand why building a credit history is necessary.

>>18074700
Oh, and having a credit card doesn't mean you have debt, you shithead.

Debt is when you owe money that you don't have. Having a credit card doesn't magically fucking change that if you only spend within your means which you're doing anyway.

>>18074657
I'm sure that you're a good guy with the right intentions but you gotta look at it from the other guys perspective.

If some stranger who was a "self employed musician" came up and asked me to lend him 100k and had no proof he paid off debts in the past I'd say no thanks too.

>>18074700

I want a USDA Home loan for $70,000 - $80,000. I have several thousand dollars in savings. The mortgage on a 30 year fixed rate loan for that amount is less than $300. I can 100% afford it, but since I've been actively avoiding debt and credit cards in order to save for this situation, no one will give me a loan. It defies logic.

>>18074703

What the fuck is so necessary about a credit card?? I have money. I report my money. It's not my fucking responsibility to make it clear to a bank that the money exists and will continue to exist. No one should be required to apply for something so extraneous as a credit card when they want something as necessary as housing.

>>18074705

Understood, but what if said self-employed musician possessed a decent chunk of savings that has consistently accumulated over multiple years, and showed proof of future work that pays more than enough to afford the mortgage?

>>18074700
Bob, who hasn't paid back a single debt properly over 10-15 years but has been taking loans and debts and mortgages out the entire time can get a new loan at a higher % interest because he has credit history, even if he's at an obscenely low score. They might make him get a co-signer, but this co-signer can also have shitty credit history/scores as well. This means credit companies get paid more money from him (and his co-signer who now legally owes money as well if he doesn't pay) on every dollar he spends, and if he doesn't pay, they have insurance and liabilities as well as patrons who actually pay their bills and interest who more than make up for him. They also get to roll his debt up into a nice summary package and put him into collections, and can eventually just forcibly claim portions of his income legally or simply lien out his possessions.

Joe who has never taken a loan, owned a card, or built any type of credit history, but can show pay stubs and work history with the same company making 90k annually for the last 10 years, is going to have a HARDER time than Bob getting a substantial loan. It may even be impossible for him without a co-signer as well.

The credit system in the states started off as a way to protect loaners and credit issuers, but has since simply become a way to create a system where people feel comfortable constantly paying off purchases and paying interest in addition to raise a number reported by credit bureaus. You literally pay extra money on your normal purchases to have this number raised.

>>18074703
>Oh, and having a credit card doesn't mean you have debt, you shithead.

Except by the very definition of the word "debt" it does. Debt is owing money. If you get a credit card, pay it in full every single time you make a purchase, and never pay it out over extended periods, you don't build credit as fast as someone who makes mid level payments every month and continues to pay it out over time as well as the interest.

>>18074679
Yea pretty much it. When I first looked into buying a house I had zero credit. I was told the same thing to get a credit card and use it for 6 months and come back. What I ended up doing was buying a car (I did need one) and made car payments for 6 months. I always bought big items with cash never really had stuff in my name. Utility bills do not go twords credit but a cell phone bill will. Paying on a student loan will go twords credit.

Honestly you have no choice but to get a credit card, buy a car (which might be hard without a cosigner), or take out a small loan and pay it off over the course of atleast 4-6 months. I'd advice the card option and buy some stuff you would normally buy anyway like gas or food. Just don't go overboard. After 6 months go to a mortgage broker and see what you qualify for. After everything is said and done and you got your house you can cancel your card.

I needed a credit score of 620 or higher to get approved for my loan and just paying car payments for 6 months my score went from 0 to 650.

>>18074718
If you're not some kind of unreasonable retard who refuses to get a credit card until he's 35 years old and suddenly wants a house, you don't have to build it "fast." I've had a credit card since I was about 16. My credit score is over 800 now. I always paid it off every month. All I use it for is recurring payments like a storage unit or subscription services. All the loans I currently have I could pay off in full if I felt like it. So maybe that is "debt" but I could be out of "debt" in 5 minutes if I wanted to be.

>>18074727
Or you could be someone who is 25 and decided they want to get a home/auto loan, and just found out you're going to need to spend the next year+ building credit to do it. The amount of debt you have is not relevant to OPs frustrations, which is that you HAVE to get a card and build credit based on debt to get anything substation in terms of loans in the US. Congratulations for getting a card at 16 and building since then, but a lot of people do not realize or understand that not having a card or owed payment of some sort stunts any loan potential until it's too late.

>>18074721

> I'd advice the card option and buy some stuff you would normally buy anyway like gas or food

I literally have been doing this for over a year. I do it as little as possible, but I have a credit card that is used to buy gas and online purchases. Not to create credit history, but to provide a little more security than a debit card in these situations. The bank told me that these credit payments are not visible to them, and apparently my paid off student loan doesn't make a difference either.

Essentially, I've played their stupid game a minimal amount, and it's simply not enough. Total joke.

>>18074727

Christ what a fucked mentality. What if you're 25 and want to move out of your parents' house but also understand that renting is a fucking racket? If you could "be out of debt in 5 minutes" then what the fuck is the point of being in debt in the first place? Oh, to play the stupid credit score game to keep up with the Jones'. Gotcha.

>>18074713
>No one should be required to apply for something so extraneous as a credit card when they want something as necessary as housing.
You're not required. Pay for your house in cash then, faggot.
If you want someone to literally give you money you have to meet their terms. Their terms include having a credit history.

Cry more.

>>18074657
Just keep shopping around among banks and mortgage brokers until you find one who will lend you - they all have different standards and systems.

Remember, though, that the last financial crash was caused specifically by banks giving mortgages to people who couldn't keep them up, so they are very wary right now.

It will help a lot if you have enough to make a larger-than-usual down payment (since they'll be lending you less and see you have a sizeable stake in the property).

For that reason, and because the post-crash timidity will loosen up eventually, you might have to rent for another year or two while building up your savings.

>>18074740
>then what the fuck is the point of being in debt in the first place?
Not depleting my savings in an instant. Keeping those funds to make other big purchases, spend on vacations if I want to, or keep on hand for emergencies without seriously disrupting my life. That's the point. Fucking idiot.

>>18074741

>Pay for your house in cash

Practically no one does this and you know why. It makes no sense to even have a system set up where banks can lend people money to buy houses if the people they're lending to can already afford the houses. People with more money than sense taking out loans just to stretch out payment over time is what's bloating this system to the point where people like me that actually need the fucking help can't be approved. I'm not just asking "someone" for money, I'm asking an institution specifically organized for that purpose. I'm also asking for a much lower amount than most people.

>>18074743

>rent for another year or two while building up your savings.

Right but the catch here is that if I was paying $800 in rent every month I wouldn't be able to save any money at all.

>>18074748

>spending money on vacations and "other big purchases" while also going into debt unnecessarily

lol thanks for the 2008 crash retard, you make the world suck for the rest of us

>>18074657
>just so that I can use it to put myself in slight amounts of debt often enough to prove to people that I can afford debt

you do know theres this thing called self-control in which you only use your credit card on things such as gas and groceries (as in things you know you can immediately pay for) You do know there are cards with 0% APR or cards in which you don't have to pay anything to keep open, right? I'm sorry that your parents are dumb and didn't teach you that, and told you that credit cards are the devils work because they went and bought 20 Ninja Blenders with the card and an brand new iPhone and then bitch about how they can't pay it off.

>>18074736
I have sympathy for someone in that situation. I could be OP if my parents hadn't taught me that having good credit is essential to getting a car or house or anything like that when I was a kid. My first credit card was on their joint account and it was their idea, so yeah.

I get the frustration but whining about how it's unreasonable or stupid or w/e and that a bank should just give you a loan for so much money when you have no proof of every having paid off a debt like that before is idiotic.

>>18074761

Thanks for not reading the thread where, y'know, I mentioned that I already have a credit card that I use for various purchases. I apparently haven't used it to put myself in enough debt for the bank to care about it.

>>18074768

Oh but meanwhile, it's totally 100% okay for me to go start renting a place that costs over twice as much as the mortgage would. That's why this is stupid. Saying "that's just the way it is" is more retarded Boomer logic that only got us where we are now. The system is fucked, now it has to be fixed.

>>18074760
I was 2 years out of high school in 2008 you fucking retard lmao

Yeah I'll keep making my measly 150 dollar payments on my car loan balance of 5k and drop a few grand go on a nice vacation this summer and not have a fucking care in the world.
Your world sucks because you're fucking dumb. That's not on me.

>>18074773
>it's totally 100% okay for me to go start renting a place that costs over twice as much as the mortgage would
I don't understand what you're trying to say here.

That it's not okay for you to spend that much money? Then don't, that's your decision. Live in a shittier apartment complex where rent isn't as high wtf do you want me to tell you? That higher rent payment also covers all the maintenance and shit for the entire building and grounds that you have to do yourself if it was your own house and mortgage so of course it's going to be much higher....duh? I don't see what's stupid about that.

>>18074773

Maybe it's because LITERALLY in the OP and in numerous post you say "lol I refuse to get a credit card, credit cards r dum >:(" and then in one off-note post you say "well actually I have one" What the fuck do you want here, cause it's obviously not advice. Don't come here to vent as there are many other websites to do that on.

I don't like the game either, but in life we have to do many things we don't like. Just man up and do what you have to do.

>>18074740
The OP stated they had no credit cards hence why I suggested that. It can take up to 3 months (maybe longer but my broker said 3) for stuff to show up on your credit report. Even still what really matters is paying the interest. Why the student loan doesn't show up is beyond me. So I would just by $50 in food and pay $25 next time you pay you credit card payment and just draw it out. Yea it sucks but this is one way to do it.

I personally would go straight to a mortgage broker and skip the bank unless for some reason you want a specific bank to have the loan. You don't pay them out of pocket and they do all the leg work and get all the paperwork together.

>>18074775

>Hostile, "fuck you, I've got mine" Boomer attitude

Yeah I might not be able to get a loan but at least I'm not a generally shitty human being :)

>>18074778

What I'm saying is that the current system says "unless you've been in debt before and/or are currently in debt, you'll have to pay twice as much for the same thing, even if you can't really afford it and it destroys any realistic chance of accumulating savings". And don't even joke around about rent being worth it. A grand majority of landlords already own their properties, do little to no maintenance, and collect $800+ a month from poorer people. It's nonsense.

>>18074786
>>18074781

I understand the confusion. I have a credit card, but it is tied to an LLC bank account and I have apparently used it too little for it to generate a credit history. That means I might have to apply for a personal credit card, which I don't need.

>>18074789
>>Hostile, "fuck you, I've got mine" Boomer attitude
You're the one who blamed me for making the world a horrible place just because I've got my finances in order and you refuse to listen to pragmatic advice about how the world actually works. So the "hostile fuck you" attitude is all yours. Don't cry when I give it right back to you. You don't deserve sympathy to be quite honest.

When it comes to property, houses or apartments or whatever, they are worth whatever people are willing to pay for it. If you don't want to pay, someone else will. Rent is justifiably higher than a mortgage payment because of the convenience living in an apartment offers, like being able to up and leave whenever you feel like it. But that is also a liability to the landlord so why shouldn't they charge more?

Not even a boomer but you literally sound like you think the world should revolve around you.

Nobody is going to lend you money if you don't have a steady income. No matter how much you use a credit card.

Your best option is just to get a real adult to buy the house for you and pay them back. Though I wouldn't recommend they do that for you because you describe yourself as 'low income' and you've never had to pay rent or pay back a loan in your entire life.

>>18074807

>blamed me for making the world a horrible place just because I've got my finances in order

Not because you have your finances in order. Do you want a fucking medal? People with your specific attitude have created this mess. More money than sense. It's not pragmatic advice to just say "that's how it is lol retard"

>they are worth whatever people are willing to pay for it

Lol gotcha, you're one of those people that don't think everyone deserves a decent place to live. The free market will fix it, yeah?

>>18074810

I do have a steady income, I just don't work for a 9-5 company with all the traditional paperwork. I've made more money in the first 60 days of this year than in half of last year, and I have over 16 months of mortgage payments saved up.

>>18074821
>People with your specific attitude have created this mess
lol no, fraud created this mess, which as nothing to do with me or my attitude. Holy shit you are ignorant.

>It's not pragmatic advice to just say "that's how it is lol retard"
It is if you want a house without paying cash for it and you happen to be a hardheaded little shit who thinks bitching about the "system" on 4chan is the way you're going to achieve your goals.

>everyone deserves a decent place to live.
Define "decent." No I don't think we should let people be homeless but no, not everyone "deserves" to live in a $1300 a month luxury highrise apartment in the heart of downtown just because the landlord already paid off the building.

>gotcha
You got nothing except projection. Oh and, no house lmao.

>>18074679
You do realize that if you pay off your credit card on time each month there's no interest right?

Just find one without an annual fee.

>>18074836

You particular attitude is one that many other people have, and it is one that don't look outside of the status quo. Your boomer parents, just like mine, told you how it was when they grew up in the 50's and 60's but - holy shit- it's half a century later now. The ways people make money are different. More people have multiple, lower income jobs. Interest rates are high. Average household income has stagnated. The traditional advice would have probably worked out fine in the 90's, not anymore.

"Decent" would be an apartment with modern, up to date amenities, or a standalone house that isn't falling apart. I agree, $1300 highrise apartments are a luxury. I know for a fact that a person can live in a decent place for $250 to $500 a month and OWN it.

>>18074845

Right, and then it takes an even longer time to build your credit history.

>>18074852
>Interest rates are high
U wot m8? They've been at all time lows for a decade.

>>18074828

>I've made more money in the first 60 days of this year than in half of last year

Sorry bro, that doesn't sound like a steady income at all. And you did say you had a low income.

Obviously you don't need a 9-5 job to be able to get a mortgage. Once you've been steadily working and earning for a few years (and you can prove it with evidence from your accountant and tax returns) then the process shouldn't be too different for you than it would be a normal person.

Don't worry too much about 'losing' money in rent though. A few years isn't going to make a huge difference to your life.

>>18074852
>it is one that don't look outside of the status quo.
No that's not my attitude. Like I said it's being pragmatic. You can realize something is shitty but also realize if you don't compromise your values sometimes on things like this you are not going to be able to get anywhere either. You are not in the position to just take your ball and go home but still get what you want. So that is the choice you have to make. Either build credit or don't. Paying in cash is still an option. But you don't want to do that either. So you just bitch, which is first of all pretty pathetic and second of all, not productive.

I don't even fucking have that much money I just was frugal, saved it and managed it well, particularly BECAUSE I know how fucking horrible things are now. So you have to think ahead, which you, apparently didn't do. So learn from it and consider if being so hardheaded and stubborn about shit like this is really doing you any favors in life.

Yeah, by your definition of "decent" I think everyone should be able to attain that, even if they need some government assistance or w/e to be able to. Unrelated but I really loved the idea of transient housing for homeless or struggling people in the form of tiny-house communities. They can be pretty luxurious and they're pretty dirt-cheap to build.

>>18074859

No, it's not steady. I'm a musician for the most part, meaning that some months I'll make $300 and others I'll make $3000 and sign a $2500 licensing agreement. It can be a lot of money, just not consistently.

File: 1471805590107.png (491KB, 1324x4000px) Image search: [Google]

491KB, 1324x4000px

Move to a sane country.

>>18074852
>>18074868

Oh and, interest rates are low as hell wtf are you talking about? When my parents got a house 25 years ago they were like 6-7%. Now it's 3-4%

>>18074657
I'll give you a protip: 3 different kinds of credit, the one for credit cards don't really affect you as far as mortgages.

>>18074894

Do inform