I'm 23 vol. new car or house/apt

Originally Posted by AntBanks81

I didn't see that he had no savings, but I was told by a Marine that securing a VA loan wasn't that difficult. I don't have the first hand knowledge of that man's situation though. The FHA program (203K) only requires a 620. He could also get the home financed by his parents and add himself after a year? How bad is your credit OP?

With some good trade lines, he could see some growth by AUG, but it really depends on what he has on his report now.

If your credit is less than 560, I think your deadline may have to be adjusted.

Stillln, things happen. I thought I did a good job of managing credit when I was younger, but I made some mistakes that proved otherwise. You just gotta get out there and make the right moves to repair it.
Click to expand...

you don't ruin your credit by chance, there is no excuse but if you learn a lesson...it will end up helping you in the end
 
Originally Posted by AntBanks81

I didn't see that he had no savings, but I was told by a Marine that securing a VA loan wasn't that difficult. I don't have the first hand knowledge of that man's situation though. The FHA program (203K) only requires a 620. He could also get the home financed by his parents and add himself after a year? How bad is your credit OP?

With some good trade lines, he could see some growth by AUG, but it really depends on what he has on his report now.

If your credit is less than 560, I think your deadline may have to be adjusted.

Stillln, things happen. I thought I did a good job of managing credit when I was younger, but I made some mistakes that proved otherwise. You just gotta get out there and make the right moves to repair it.
Click to expand...

you don't ruin your credit by chance, there is no excuse but if you learn a lesson...it will end up helping you in the end
 
Originally Posted by Dirtylicious

neither..

keep your car
work on your credit
save your money
Click to expand...

Was gonna say this.  Stack till you cant stack no more.
 
Originally Posted by Dirtylicious

neither..

keep your car
work on your credit
save your money
Click to expand...

Was gonna say this.  Stack till you cant stack no more.
 
I would say this:

Stay at home as long as you can. Especially if your bedroom is another wing of the house from your parents

DON'T BUY A CAR!!! Keep the car you are driving until it don't run any more. Having a new car is overrated, unless, unless, you are buying your dream car or buying new doesn't add further expenses (I just recently bought a new car and I pay for it with an recent influx of money and adjusting my bills without spending extra)

Open like two credit cards, i.e. a major credit card and like best buy or something like that. Get a secured credit card from your bank. This will build your credit.

Put a good amount in your savings and have a balance of at least 1k to 3k in checking. This shows you always have money to cover your bills and you are looking to the future

DON'T RENT when you finally decide to move out your parents. Buy a house, condo. or whatever. Renting is just throwing money down a hole. Only rent if you HAVE to.

Do all this, by the time 26 27, you can put a lot down on a house, maybe buy a new car cash or get a very low monthly payment with a big down payment, and you'll be WINNING
 
I would say this:

Stay at home as long as you can. Especially if your bedroom is another wing of the house from your parents

DON'T BUY A CAR!!! Keep the car you are driving until it don't run any more. Having a new car is overrated, unless, unless, you are buying your dream car or buying new doesn't add further expenses (I just recently bought a new car and I pay for it with an recent influx of money and adjusting my bills without spending extra)

Open like two credit cards, i.e. a major credit card and like best buy or something like that. Get a secured credit card from your bank. This will build your credit.

Put a good amount in your savings and have a balance of at least 1k to 3k in checking. This shows you always have money to cover your bills and you are looking to the future

DON'T RENT when you finally decide to move out your parents. Buy a house, condo. or whatever. Renting is just throwing money down a hole. Only rent if you HAVE to.

Do all this, by the time 26 27, you can put a lot down on a house, maybe buy a new car cash or get a very low monthly payment with a big down payment, and you'll be WINNING
 
I bought a home in 2008, and totally regret the decision. Took a promotion and 20% pay raise to move somewhere else, and now I will have to rent out my house cause I can't afford to sell it.

It just sucks to know I would be financially better off if I would have blown my money on shoes, clothes, weed, and other worthless crap, than buying a house. What makes it worse I thought I was being smart by buying a reasonably priced house that only appreciated by 3% from 2000-2008 (thought the correction would only be for homes that appreciated to ridiculous levels). But I was wrong. I'm a lot better off than some people who lost 30-40% of their home value, and I'm not even upside down, until you factor in closing costs. Still sucks, though.
 
I bought a home in 2008, and totally regret the decision. Took a promotion and 20% pay raise to move somewhere else, and now I will have to rent out my house cause I can't afford to sell it.

It just sucks to know I would be financially better off if I would have blown my money on shoes, clothes, weed, and other worthless crap, than buying a house. What makes it worse I thought I was being smart by buying a reasonably priced house that only appreciated by 3% from 2000-2008 (thought the correction would only be for homes that appreciated to ridiculous levels). But I was wrong. I'm a lot better off than some people who lost 30-40% of their home value, and I'm not even upside down, until you factor in closing costs. Still sucks, though.
 
Originally Posted by StillIn729

never understand how people screw up their credit

OP sucks but you should stay at home and work on fixing the situation

bad credit=Kia for BMW monthly payments
Click to expand...

Truth.......
laugh.gif
 
Originally Posted by StillIn729

never understand how people screw up their credit

OP sucks but you should stay at home and work on fixing the situation

bad credit=Kia for BMW monthly payments
Click to expand...

Truth.......
laugh.gif
 
I'm 23, just closed on my first home. Figure, if I'm going to pay rent, mine as well do so towards my own mortgage.
 
I'm 23, just closed on my first home. Figure, if I'm going to pay rent, mine as well do so towards my own mortgage.
 
hmmm leaning towards just getting my credit straight.... and renting out a 1br apt..
 
hmmm leaning towards just getting my credit straight.... and renting out a 1br apt..
 
Originally Posted by Xavier

hmmm leaning towards just getting my credit straight.... and renting out a 1br apt..
Click to expand...

Good idea. Don't look at a house until your credit's right, can put a good % of it down and set yourself a cushion with payments. Maintaining a home ain't cheap.
 
Originally Posted by Xavier

hmmm leaning towards just getting my credit straight.... and renting out a 1br apt..
Click to expand...

Good idea. Don't look at a house until your credit's right, can put a good % of it down and set yourself a cushion with payments. Maintaining a home ain't cheap.
 
Originally Posted by Dirtylicious

neither..

keep your car
work on your credit
save your money
Click to expand...
right. u think your credit is gonna be any better when u will be overpaying for a house or car.
dump it in a 401k
 
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