GoldenEagle Posted September 14, 2015 Group: Royal Member Followers: 4 Topic Count: 764 Topics Per Day: 0.18 Content Count: 7,626 Content Per Day: 1.81 Reputation: 1,559 Days Won: 44 Joined: 10/03/2012 Status: Offline Share Posted September 14, 2015 If it's in order to buy a house... You should ideally have all student loans paid off, $0 balance on any credit cards, medical loans, and paid off vehicles. You should also have 20% to put down as a down payment towards the house to avoid private mortgage insurance (PMI). The monthly payment should be no more than 25-35% of your monthly net income. You should have 6 to 12 months of expenses saved up in a rainy day fund (emergency fund). You should try to get a 15 or 20 year mortgage so you pay less interest. And finally you should buy a house no more than 2-3 times your annual salary.Having a house is like having a family. There's always unexpected expenses and things cost more than you think they will. Particularly in the first year or two of home ownership. You can expect to have expenses equal to 1 to 2% of the house value each year. So say a new fence, AC unit, appliances, etc. God bless,GE Link to comment Share on other sites More sharing options...
ricky Posted September 14, 2015 Group: Senior Member Followers: 5 Topic Count: 40 Topics Per Day: 0.01 Content Count: 508 Content Per Day: 0.14 Reputation: 216 Days Won: 0 Joined: 08/04/2014 Status: Offline Birthday: 03/09/1985 Author Share Posted September 14, 2015 Thanks for the in put, I do want to own a house in the future, but I think we will rent for the next while Link to comment Share on other sites More sharing options...
GoldenEagle Posted September 16, 2015 Group: Royal Member Followers: 4 Topic Count: 764 Topics Per Day: 0.18 Content Count: 7,626 Content Per Day: 1.81 Reputation: 1,559 Days Won: 44 Joined: 10/03/2012 Status: Offline Share Posted September 16, 2015 Thanks for the in put, I do want to own a house in the future, but I think we will rent for the next whileThat's good. Waiting for the right moment to buy is important. Still, why do you want to build credit and have a high score? God bless,GE Link to comment Share on other sites More sharing options...
missmuffet Posted September 16, 2015 Group: Royal Member Followers: 34 Topic Count: 1,990 Topics Per Day: 0.48 Content Count: 48,688 Content Per Day: 11.83 Reputation: 30,343 Days Won: 226 Joined: 01/11/2013 Status: Offline Share Posted September 16, 2015 What do you think about this?8 financial worries of Americahttp://www.cbsnews.com/media/top-8-financial-worries-of-americans/ Link to comment Share on other sites More sharing options...
mshienie Posted August 6, 2016 Group: Members Followers: 1 Topic Count: 21 Topics Per Day: 0.01 Content Count: 60 Content Per Day: 0.02 Reputation: 39 Days Won: 0 Joined: 01/06/2014 Status: Offline Share Posted August 6, 2016 hello i am going to tell you that to build credit is very hard try calling a credit builder company. everything comes out of the price of either restarting over again or just simply knowing who can help you find a way out. so try that hopefully that helps Link to comment Share on other sites More sharing options...
Running Gator Posted August 6, 2016 Group: Royal Member * Followers: 8 Topic Count: 91 Topics Per Day: 0.03 Content Count: 10,596 Content Per Day: 3.70 Reputation: 2,743 Days Won: 25 Joined: 06/16/2016 Status: Offline Share Posted August 6, 2016 On 9/11/2015 at 4:52 PM, Secret__ said: You could go to your local bank and see if they would collateralize a loan for you. For example, deposit $5K into a restricted account. Borrow a percentage of that amount secured by the cash. Make payments on time. I am not advocating obtaining credit. I am anti-Credit. I am only showing one way it could be accomplished. Credit, if used wisely. is a great tool. Because of my good credit I can buy get a car loan for lower interest than what I make on my investments. For me to pull money out of my investments to pay cash for a car would actually cost me money. The same goes for my house and other things. Link to comment Share on other sites More sharing options...
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