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Owning a house

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What must i do in order to own my own house by the time im 26? Im 22 atm
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buy a house
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suck a dick
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>>1748088
No shit how about some tips to be able to afford to?
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>>1748092
Work.
I bought mine at 23.
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>>1748093
I am im not very smart but i have a decent job that nets me 30k a year after bills im usually left with like 500 extra $ are there any tips to speed up the process besides obvious "get secondary job" also opinions on mortgages?
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>>1748082
>own my own house
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build up a downpayment, keep your credit score decent
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You're not gonna make it, you've already fallen for the house ownership meme.
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Job for 2 years, credit over 640, get homebuyer assistance for the down payment and some closing costs, get your agent to ask for whatever is left over cost-wise in the initial offer to be paid by seller, go buy a house.

It's not a depreciating asset, so believe it or not, it's easier to qualify for a mortgage than it is for a moderate priced car.
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>>1748082
Buy Trumpcoin now.


Barron Trump just got added to the dev team, shit is going to the moon.
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>>1748082
Is there any kind of mortgage you can get with a high income and no down payment, that doesnt need 4+ credit cards open in your name for multiple years?

I could easily handle mortgage payments instead of rent but rent as it is makes it slow as fuck to save.
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>>1748730
Didnt mean to direct that @OP
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>>1748093
t. - someone who lives in shit house
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>>1748799
Shit house > renting > nothing

Fuck landlords
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>>1748730
Not really. Down payments and good credit are used to offset risk, remove both and the lender is way too exposed.
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>>1748730
If you qualify you can get an FHA loan and the down payment can be as low as 3%. however not all banks/sellers will accept this for all houses.

Also if you're in a big city you'll want to look at something just outside the city limits. Usually it's a huge price drop.
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>>1749031
I live in a rural area but thanks.

I feel like thats the one I was denied for before for not having 4+ open lines of credit for the previous 1/2 years, but Im not 100% sure.

>>1749010
I get having to have good credit, but having to have a hard number of credit lines versus one card that Ive made every payment on for years as well as previous car loans is retarded
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>>1749040
It's probably too late to do this for you now but I have a 750 credit score for the sole reason that I had a shitty credit card when I was 16. It was capital one, they charged a yearly fee of $40. I just bought everything on the card and paid it off in full every month for 2 years.

The only other thing I'll say is, if you get the chance, go a little higher than what you were intending. I was going for the average around here, $60K will get you an ok house with 2 bed 1 bath. Bank said I would have no trouble getting up to $100K. For just 20 more, a total of $80K, I found
>5 beds
>3 bath
>pillars in entrance
>2 living rooms
I feel like I'm rich or something.
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>>1749049
Thanks for the advice Anon
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>>1748082
banks prefer to loan to married couples because they've got two incomes. Two incomes are better than one.

if you're going in single you need excellent credit, not a lot of debt, significant income, long work history, and probably savings over about $10k.

an amazing income will substitute for all that though, if you have it.
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>>1749049
Are you in the US?
If so where the fuck do you live that you find houses for 60-100k flat.
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>>1749071
most of the US is like that.
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>>1749074
I hear this a lot, but every place I look has homes that size starting at like $300,000 at the very least.

Name a town/city.
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>>1749071
Yep, USA, outside of big city. Houses inside cities are indeed insane price and poorly built.

You can even find a 2/1 house for $25K. It will be a foreclosure and you may need to bring 100% in cash, but you can do it.

If you are willing to do a shitload of work, they even have some for $15K. Usually result of a fire or tornado that only took out one room.
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>>1749076
most of the US isn't a town/city.

that's your problem presumably. The places where you can get houses for $20k-$50k are usually pretty rural. Panhandle of Texas, coal country in Pennsylvania, the Appalachians, Nebraska, Kansas, Oklahoma.

shit places nobody wants to live mostly. Detroit. 90% of the south. Corn land. New Mexico. Parts of Hawaii even. Most of Oregon. Lots of Washington and California. Whatever.
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Sup bros!

I'm 20 year old from Europe going to Med School and still living with my parents. I really want to move out, but I don't even want to start.

In my country it's normal to live with your parents until like 28 but I know I will go crazy if I do so.

I don't even know where to start, because my parents don't even have their own apartment (we are basically renting from the country). I have like 5k€ on my bank out from saving. I know it's not much but still.

Apartments in our city are expensive as fuck, I found someone selling 36m2 apartement for 90k which is a pretty good deal.

What would you advice to me? I need to work and I will try to, but it's really difficult to manage with med school and student jobs are paid really bad.
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>>1749088
>shit places nobody wants to live mostly. Detroit. 90% of the south. Corn land. New Mexico. Parts of Hawaii even. Most of Oregon. Lots of Washington and California. Whatever.
>Corn land

Top fucking kek
As someone from Indiana I got a good laugh out of that
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>>1749096
well at least you're not from potatoes and meth country.
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>>1749088
>>1749096
Housing prices are even less in a 25K pop city close to me. Someone from here is from Long Island and the cheapest 2/1 house is $800K. This is 5/4 and $400K.

tech and high paying jobs are all in cities but if you're making a lot there, starve yourself for 5 years and live in a shithole nothing apartment, move out to the west and buy half a city, then rent it out per room.
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>>1748082
move to detroit
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>>1749216
Yep, we call those people equity queens.

live broke in SoCal for 30 years, then sell your house and retire like a king in texas or wherever. It's not a bad strategy so long as the average housing prices around the country don't catch up to you while you're paying off that expensive place.

stuff is rising. I remember when you could buy a new 3 room house in rural texas on acreage for less than $10k. Now not so much. But still cheap compared to places people want to live.
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>>1748082
Loan officer here

Op, I am assuming when you say own a home you mean to live in one and not pay cash.

If a mortgage is what you are asking about all you need is 3% down and at least a 640 FICO. Unless you are big on putting more down 3- 5% is all you need. I can give you the monthly payments if you tell me the city and home price you are looking around. How much monthly debt do you pay?
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>>1748082
Work your ass off and save your ass off.

Don't waste a single penny on useless stuff like expensive computers, beers, candies, ice cream, etc.
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>>1748096
I'm assuming 500 per month or 6000 per year.
There's also tax returns, which I'd assume is around $3-5K, so around $10K saved per year.

2 years and its $20,000 saved. Thats 20% down on a 100K house.
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>>1749279
>expensive computers
It's amazing what you can get on ebay, businesses in california throw laptops from 2009-2013 out by the shitload and you can pick them up for less than $100.
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