Anyone know anything about mortgages?

Question

Is it impossible for an 18 year old to qualify for a mortgage? If two people aren’t married, can they get a mortgage together? What is a decent down payment for a home that’s listed at $260,000? 
Yes I’m stupid but if anyone can help, I’d appreciate it

Answer

Look up mortgage brokers in your area and they will be able to answer if you can qualify. If you don’t qualify for one then ask them what you need to accomplish in order to qualify for a mortgage in the range your looking. 
They may say you need a bigger down payment, longer position at a job, higher income, lower debt. All can contribute to how much you are able to borrow. The nice thing about asking now is you’ll have a starting point for where you need to go and you’ll have a goal to get to.

Answer

I highly doubt you can at 18. You need credit history and that only comes with years of having credit in good standing. 20% is good so you would need around ~50,000k give or take. 
I really wanna know what you do for a job though, I need a job like that!

Answer

Just remember that homeownership is a lot more than the down payment.  There's no landlord to call when your water pump breaks in the middle of the night or a tree falls through your roof. You want to make sure you have enough money in the bank for big emergencies like that or else you'll have to finance it which can lead to horrible financial trouble.
Plus yard maintenance and plowing depending on where you live, all of which also comes with a price tag. And of course utilities!

Answer

At minimum 3.5% Down around 9100 plus 7000-10,000 closing costs plus appraisal and inspection around 500 each.  This is all based on credit and income. Better credit gives you better numbers. If you can afford 20% down, even better 52k to avoid pmi by if you cant it is tax deductible of you can’t. Your mortgage should not  e more than 1/3 of your income. Married or not has nothing to do with it. You can have up to 4 people on a mortgage. You have to show 2 years taxes with w-2s, 3 months bank statements, 1 month paystubs, copies of your IDs and social security cards or green cards if you aren’t citizens or work permits. They look at your debt to income ratio. How much debt can you carry vs how much income you have. Credit 640 minimum bit they prefer 680 or higher, but the higher the better your interest rate. The lower the rate the lower the payment. You can pay tax deductible points to lower your interest rate if it’s higher. You have to be pre qualified with a mortgage broker or bank before you can look at houses with a realtor. The broker or banker will tell you on the pre approval how high you qualify for based on your income. If your credit isn’t there, you  may have to pay down 50% or pay off to clean it up. If you have questions let me know.

Answer

I think they usually look for about a 15% downpayment. So $39,000? We were married when we got ours and my husband is a veteran so it was different for us. But they did need proof of his income to insure we could afford the monthly payments and then along with the mortgage you also have property tax,  a downpayment that shows you're serious about your offer on the house and if you back out they keep the money (I can't remember what it's called. I'm so brain dead today), you have to pay for an appraisal, and then home insurance as well. And other things here and there that I can't remember

Answer

I got my first house at 19 with my boyfriend on the title of the house also. House was much cheaper though 140,000. And I believe our down payment was all together around 10,000. Payments with escrow around 1,000.

Answer

If you are 18 and meet the qualifications you can get a mortgage. 2 people can purchase a home without being It is always best to put down 20% down payment to avoid having to pay a monthly PMI fee. If you can’t afford the down payment u can opt to put down less. Good luck!

Anyone know anything about mortgages?

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