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Go down and talk to a lender in person. There are a lot of great loans out there, and a lender can go over your income, debt and down payment and pre-qualify you for a home. And they can tell you exactly what your payment will be. I have to add to this and reply to the comment that " you don't need to own a house" - nothing could be further from the truth! Real Estate, when done well, is an excellent investment. Think resale when you buy. And don't waste your money making your landlord's payments for him if you can help it. Single or not, buying real estate is an EXCELLENT investment.

by knismom

3 weeks ago

Asker's Rating: 

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by Cameron- 3 weeks ago

Well for that you should see biznuss ... i hope that resolve your problem keep using answers.yahoo.com

by kill- 3 weeks ago

let me first of all apologize for those other losers who didn't answer seriously. now, don't take offense to my answer, i'm only trying to help you. you're single, no kids(i'm assuming), so why the hell do you need a house? get an apartment or stay at home with your parents. You really don't need a house by yourself. I have a friend, he's 28 and has a 3 bedroom house all to himself. Do you know how much money he makes a year? $70000 or so. Until you make more more money, you won't be able to have a house. You don't even need it.

by IHYALEVEL2BlTCHES.- 3 weeks ago

If I were you wait a few more years. Pay off your visa if it still has a balance. As well in a few years your car insurance may go down. What got me thinking you should wait is what you said "I'll be lucky to make $20,000 all year between the two of them " That may not be enough for the banks to lend you the money and if you think $900 is stretching it with out friends living with you. Living in your parents basement may suck right now but wouldn't it be worth it a few years down the road with a savings account, a house, and feeling more secure?

by redcurleyz- 3 weeks ago

The answer to your question is keeping your eye on the target and never taking your eye off that target. Your target is to purchase a house for you and to move out of your parent's basement. There are several ways of doing this. You must be receptive to ideas that would cause you to make your target. Lenders consider 1-4 units the same as they do a single family house if you reside there. You could purchase a two unit or 4 unit apartment thus you would have someone else assisting you in making your monthly mortgage payments. If you get a 4 unit then you would almost live there rent free, Your contribution would be minimal. A FHA loan requires a minimum of approximately 5% down though you may put more down if you desire. Now you will hear from all the naysayers about tenants and how they will mess your property up and all sort of Halloween stories. My response to those naysayers is there are many individuals that own these type units. They tackle and solve problems that make them successful. I am not gonna sit here and tell you that you will never ever have a tenant problem that would be a blatant lie. How ever people that are successful are those that take risk and solve problems. After owning two or three of these four unit apartment buildings, would you really need a job. Then there is the appreciation that will once again be there after the current housing crisis is over. With the appreciation and you paying down your principal yo would increase your net worth. You would also have enough to purchase a house in a good neighborhood. Now you must be educated about being a land lord, so make sure you go to your local book store, purchase several books on how to be a land lord. There is also an organization that assist those unit owners. It is called the Apartment Housing Association. The have many chapters in most of your cities. They also have monthly meetings, that help with topics of interest to landlords. They also have and will sell to you the various forms that are needed to be successful. The also have means of you getting credit checks for potential tenants. They will also have forms and classes on how to properly and legally evict bad tenants. There is a monthly fee that the organization charges it's members. This might be tax deductable on your federal income taxes as well as books you purchase. Once you have read several books on land lording, made contact with the local Apartment House Association then you will be able to make a decision as to if this is something you want to do to achieve your goals. If not then you would have to come up with another plan. This just happen to be one that I thought would be helpful in your reaching your goal and that is owning a home. For any legal and tax matter you should always consult with your tax consultant and attorney. So the only thing you have to decide is do you really want to reach your target or are you gonna sit there and make excuses. There are many things you should do, but the first thing you should do is contact a mortgage broker that does FHA mortgage loans and get pre-approved. This is the first step. Once you have your pre-approval then contact a real estate agent to look at house based on what you are qualified to buy. You will need proof of income so have available pay stubs, w-2, bank statements and other items your mortgage broker will require. He will inform you of what is necessary once you contact him. This pre-approval will tell you the amount of house you are qualified to purchase as well as the interest rate, monthly mortgage payments and other necessary things you need to know about your mortgage. There are many things you should do, but the first thing you should do is contact a mortgage broker that does FHA mortgage loans and get pre-approved. This is the first step. Once you have your pre-approval then contact a real estate agent to look at house based on what you are qualified to buy. You will need proof of income so have available pay stubs, w-2, bank statements and other items your mortgage broker will require. He will inform you of what is necessary once you contact him. This pre-approval will tell you the amount of house you are qualified to purchase as well as the interest rate, monthly mortgage payments and other necessary things you need to know about your mortgage. I hope this has been of some benefit to you, good luck. "FIGHT ON"

by loanmasterone- 3 weeks ago

First off, if you are single and looking to get out of the house, then you want to look at starter homes. One bedroom, maybe two, townhomes, condos, that sort of thing, which should be cheaper than the 100K you are currently looking at. But realistically, what you need to do is concentrate on improving your work situation. You have two jobs, which shows initiative, but neither seems to be a great job. Look into whatever is holding you back in the job market (education, location, career field?), and see what it will take to fix that. That will have a larger long-term impact on your future than buying a house will.

by philospher77- 3 weeks ago