Qualifying For Mortgage at 18

[Account Closed]

Hi BP, I had a question regarding how easy/difficult it would be to qualify for an FHA loan at 18 years old.

So my plan is to buy a 4-plex in a year, but I have had 0 employment history so far. I'm in the works of trying to secure a taxable income job with my mentor asap, but was wondering if 10-12 months at this job will be enough employment history for a lender to qualify me for an FHA loan for roughly $150,000-$170,000.

Any of you dealt with this? attempted this? did this for someone else in my situation? Any help is appreciated. Thanks in advance

[Marc Winter]

@Account Closed,

We all admire your ambition!  

You are just starting out, so let's take baby steps first--since you won't qualify for any mortgage without any income or assets (at this time), you might consider:

1.  Get a killer deal and partner up with an experienced investor as a buy/hold

2.  Get a killer deal and sell (assign) the contract to an experienced investor as a wholesale deal

Have you noticed the main part of this is GET A KILLER DEAL!  You get the deal, the money will follow.