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Updated over 10 years ago on . Most recent reply

Account Closed
  • Chester, NH
0
Votes |
53
Posts

Need help finding financing.. (Young/minimal credit)

Account Closed
  • Chester, NH
Posted

Hey everyone, I am 19 and am looking to by a smaller single family or duplex with the intention of buying and holding. I've done my research and feel I understand enough to make the leap, however the only obstacle left is finding financing. I am young with no credit and currently "unemployed".. (I work for myself flipping cars). I've been looking at properties in the 40-90k range, and currently have enough cash to make a down payment on a ~10% HomePath loan. However, my questions:

Would I even be considered for a loan given my age/"employment status"?                       Would I even be considered given no credit history?                                                            If these answers are no, are there any suggestions/solutions as to how I could find financing?

Thanks from a newbie,

Axel

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