Question
What are the chances of my boyfriend getting approved for a small loan to buy a condo?
I have $20,000 that my mom gave me, and I really want to purchase a condo with this money. My boyfriend doesn't make much, and if we get a 2 bedroom apartment the monthly payments will be much more expensive than the payments on a condo. My boyfriend only makes about $2,000 a month, but we're about to have a baby, so he will be getting a little bit more once we have the baby because they will not be taking so much money out of his paychecks. Obviously $2,000 a month is not enough to live off of; my parent's are going to be sending me money so we will be fine. My boyfriend has very little credit experience; he bought a car about a year ago, has a macy's card, used to make payments to a jewelry store, and used to make payments to an electronics store. He started this all about a year ago, right when he turned 18. Anyways, he usually makes his payments on time, but I know that they're very strict now on who they give loans to. From what it sounds like, does it seem like my boyfriend could possibly get approved for a loan? If not, can I please have some advice on other options? Thanks! I live in California, in Los Angeles county, right next to Orange County. Living cost here is outrageous; we can barely afford a condo.
6 months ago - 3 answers
Best Answer
Other Answers
Why in the world would anyone want to buy a condo? You do realize that you don't own anything when you buy one, right? You own the air space inside the unit, and that's all. You don't own any land, nor one wall of the unit where you live. And you're still paying property taxes as if you actually owned real property. On top of that, you have to pay association fees. Condominiums are the biggest real estate scam in US history, in my opinion. Why can't he just buy a 3-bedroom brick ranch house? With $20,000, he can buy one for $100,000 or less, if he can get a conventional loan for $80,000. That would be 20% down.
by Leaira- 6 months ago
Hello, I live in the US and i really have never seen goodness shown to me this much in my life as i am a struggling mum with three kids and i have been going through really rough times in my life and my name is Helen Peters and in all this hard times, a worse incident occured in my life as i lost my job which was my only means of survival and things became really bad as i had bills to pay and my last son suffered a knee injury incurred when he fell from a tree house and the doctors informed me that he needed a surgical operation for his knee so he could walk again and at this point, life was useless to me as i have no family and no one to run to and each night, i will sit down and cry till the break of dun until one day, i read an advert on yahoo answers of man that stated that he could help people in my shoes with loans and in my desperate situation, i had no choice but i had to try and so shocking and suprising, it was like an impossibility becoming a reality, i got a loan of $75,000 USD even with my bad credit within 48 hours and my sons surgery was done and thank GOD it was successful and now, i am okay and living in comfort with my kids and i said to my self, i have never ever seen this kind of wonder in life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in my former situation or require a loan legitimately, i will advice you contact this loan lender and you can reach him via patrickharvey12@yahoo.com and i want you all to pray for this man for me.
by Helen Peterson- 6 months ago