Tfw 737 credit score

>tfw 737 credit score
>tfw 43200 income
>tfw 30000 saved up

>check mortgage prequlaification
Congratulations, you’re Pre-Qualified for a 30 Year Fixed Rate Mortgage

Here are the details:
Loan Amount:
Up to $81,475
Sales Price:
Up to $111,475

Fuck my life. I'll never own a house. I'm going to be a rental serf forever at this rate. Anyone else know this feel?

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just wait for the next housing crash you loancuck

Do you have other debts? Did you talk to a real person from a bank? I would think you'd be approved for more.

I tried talking to a real person they said "yeah we don't have anyone here who does that you need to go online."

How come in 2008 stupid niggers were getting approved for mansions and I can't even get approved for the shittiest fucking foreclosed house now?

any house that you could afford would be bought same day of listing, cash, by an investor and then rented out

You need a spouse

I have the same mortgage with shittier credit and less income and saving

wtf americucks, 43k/year and can't afford a house ?

Like, save up for 3-4 years and get one for about 60k outside of town IN CASH.

Here in Europe, I make 36k Euros (40260.60 USD) and bought an apartment for 70k, took a small loan of 20k for 2 years, already paid ~9k of it.

Sounds like you're going to need to find an actual bank.

Yeah, so the banks have since realized that was a really fucking stupid idea.

If you get the same answer at an actual regional or national bank, what can I say other than it means you can't actually afford a house.

100k houses sit on the market for 4-6 months by me (even 2-flats at 80k... Going on 8 months for one). 5% unemployment, no crime, just a boring small city.

$60-80/sq ft for decent places, $100-120 for houses built in the past 15 years, $40/ft for fixers.

Jesus you have to buy apartments. Fucking sad.

your income is absolute trash tier, your credit score is about a C+.

ask for owner or bridge financing for the last 30k if you can get it. Its pricey and you'll be housepoor till you pay it off but the choice is up to you.

In the mean time save save save cash is king.

Also get a side gig, and register the company. Be the company's best customer paying yourself back and forth.
better yet get real customers.
legally you can add the side income to yours even though you're robbing peter to pay paul to rob the jews.

> have since realized
No they knew it was a shit idea in the first place. That's why the gov't stepped in and bought the loans off of them and they sold them to them and washed their hands of it.

How the fuck do you save up that much cash I'm 22 making a little over that and have 5k cash REE

I live in one of the "People's Republic" cities. Houses start at 400k here. Even at close to 90k a year I can't afford this area. I have 50k saved up, but it doesn't matter, still not close to what I need to buy this area.

Unless you are Australian, that's nonsense. You should be able to save 20k a year on a 40k income no problem. You are probably eating out way too much, leasing a luxury car, and have very expensive rent if you only have 3k savings. Pathetic desu.

American and yeah I eat out everyday

Are you high? Condos exist everywhere.

>
at 5k you actually would have a higher net worth than the average millennial (everyone in the 18-34 y/o age range I believe).

never really understood why most ppl are so shit with managing their money. always seemed second nature to me.

>never really understood why most ppl are so shit with managing their money.
Mommy and daddy never taught them, or they made bad examples

How else are you going to learn?

Wait why can't you apply for a second mortgage? Do you live in commiefornia btw?

>next housing crash

There's only ever been one!

You either have a lot of debt or you are just bullshitting, you could easily get approved for much more. (I'm a mortgage banker)

Please please please dont listen to this "advice". It's straight horseshit.

Ok let me just pick a wife from the wife tree.

I'm a 27 year old virgin desu ;_;

Never mind it user, that house in the pic is probably built out of cardboard anyway.

Eating out is very expensive over time. Getting all your own groceries can cut your food cost in half or more.

Um... Don't you have just enough to buy that house? Just save for a tiny bit longer and you'll have enough for closing costs. Or get some family to front you that relatively small amount of cash.

do you have debt? this doesn't sound right...

Internet. But it's definitly easier to blame your parents.

Rent.

Why would you want to lose freedom and money?

>I'm going to be a rental serf forever at this rate. Anyone else know this feel?

No fuck that. After my lease is up, I'm never giving another dime to a landlord ever again. They are all scum.

>legally binding contract
>freedom

pick only one.

At least with a house, you can sell it and move whenever you want. And unless you live somehwere like Detroit, you'll get a nice chunk of your money back, if not more. with renting you get nothing back

>can find a house for under 300k

Here in Canada the average income is like 35k per year and we have a 70% home ownership rate despite the average house costing 450k

This is some 2007 America shit

Yes, it's freedom.

At least with a house you can't sell it whenever you want because you have a mortgage on it and you need to find someone willing to buy, also you're most likely going to sell it at a loss.

With renting you can literally get the fuck out whenever you want, no strings attached.

Mortgage cucks are adorable little creatures.

>you're most likely going to sell it at a loss.
less of a loss than renting

I just bought a house in Florida in October for 110k when my income was 42k, and credit about the same at 4.375%.

Idk what you did wrong

>tfw when you are poor as fuck but you're still doing better than a majority of the population

>spend even more money on shit you don't need

Great idea.

>Walk outside
>Get shot
>Call ambulance
>Become homeless
>Get shot again

They're trying to stop that in the US, at least on the top 10% of the market anyway.

>money.cnn.com/2016/07/27/real_estate/treasury-rules-identity-high-end-cash-buyers/index.html

See Do you have a lot of debt? That will limit how much a bank is going to lend you big time, regardless of how high your credit score is. With an income at or below the national average (in the US), pay off all of your debts first.

What the fuckin random.

Selling house at a loss? Its rea lestate.. You have to try your hardest to buy high and sell low.

Yout face looks like a house? Why dont you just live in it instead.

Ya, your shit is about to pop reaaaal soon.

US banks are fucking mental about debt-to-income ratio's.

Spending habits of the past 7 years indicate I can dedicate about $5-7k per month to a mortgage and other associated home ownership costs, yet when I plug my numbers into calculators here, they suggest I may qualify for a home loan of about $150,000USD.

Banks in Australia pre-qualify me for loans of around $700,000AUD

Not really considering the maintenance costs on homes.

>can only loan twice your salary in us
What a fucking shitcountry.

That is of course, if the value of your home continues to rise, and even then you're not counting maintenance costs just to keep the house up to date.

Then why don't we all become milionaires by buying low and selling high, seems ez :^)

>With renting you can literally get the fuck out whenever you want, no strings attached.

Tha'ts complete bullshit. You are legally responsible for the full term of the lease. If you only live there 2 months and then decide you want to move, your landlord will sue you for the remaining 10 months of rent payment and easily win in court.

Finding month to month leases is incredibly difficult. Most are 12 months.There is no "freedom" there

Came here to say this.

We're still in the 2008 Recession. Most people just don't realize it because a fuckton of currency was dumped into the economy to keep it limping along, but it's borrowed time. None of the fundamental problems were addressed or remedied.

They could have just let the market correct itself, but instead they tried to do it themselves, and in doing so they only prolong the misery and make the popping of the bubble that much more disastrous.

What the fuck?
Find a broker damn.
Bank told me 50k max at 6%
I bought my house at 20, 690 credit 121k loan 3% int, 2.5% down, seller paid closings then wrote me a 2k check for some bullshit plumbing repair he had an estimate on.

What fucking bank are you going through? Assuming you're going to set $5000 aside purchase and closing related shit, you're at 20% of $140k.

The loan you should have would be at least $100k.

What's your overall D/E? Something else has to be involved here.

4, 6 & 9 month leases are not all over the place but they exist.

Source: I've had a 4 month and 7 month lease in USA and a 5 month lease in Australia. Money talks.

OP's mortgage numbers are horseshit.
0% chance he'll ever post proof.

Not sure about that. Key word is "average." You take a couple thousand of houses in Toronto (averaging near 1.25 million CAD,) then bump then against a couple thousand in Manitoba at $50k each, and the average goes high.

You might be onto something, though. The major cities (Toronto, Ottawa, Montreal) are all more than the rest of the country (and depending on where, even cities like Calgary, you have price ranges in the 10s of millions, down to $20k.)

>Tfw have to live near DC
>Rent/Car maintenance is 60℅ of income
>I own a 2013 civic
If I could have 8k I would do anything. I make 38500 a year...

Get prequalified elsewhere then. I don't believe a bank is demanding you put 27% down on a place with a 737 unless your DTI is atrocious.

>Be 25
>773 credit score
>If it weren't for a VA loan I would be utterly fucked
>So little credit history that I can't get certain high limit credit cards

The millennial struggle is real.

Lease option to buy
Find a cheap duplex, buy that, and rent out the other unit. Pays mortage and then you can fix up and sell it

>market fix itself
when will this "muh free market" meme end?

> 2013 civic

There is your problem. You could literally get an older car, pay less in insurance, and it would be just as reliable as long as you took care of it.

On 40k salary in America, after taxes (FIT, SS, Medicaid) , insurance benefits (medical only, single) and a 401(k) contribution (3%, nothing to big) - user probably takes home about 26-28k in take home pay. The gap can be explained by state income tax, some have it (CA, NY) and some don't (TX)

'84-'87
Wasn't as devastating but the housing market fell

Makes me want to move down south. In WA state on the Seattle eastside, 200k will buy you a run down 60 year old rambler in a really crappy part of town. In TX, you can live in a neighborhood in a

Unless you were in Houston

>tfw 0 credit score
>tfw 13k euros income
>tfw 48k euros saved up

>2.5% interest rate 30 year fixed mortgage

Feels good not to be a burgercuck :^)

However, I chose the 1% / 5 year instead.

Jesus man get a crock pot and YouTube that shit. Put shit in a pot and let it cook, then bam! Food for a work week

You'll feel better financially and physically anyway

To be fair, most states have a rule that the landlord must present evidence that they made a "reasonable attempt to rent to others" if they want to come after you for the rest of the lease. What that level of evidence is depends on the state.

But regardless (preaching to the choir here) there's still no equity being built up, so it's just an expense and will never be valuable to lease.

I have some bias towards owning, but I bought a house for college and rented rooms to others. With the rent and mortgage incorporated, my equivalent rent for the period of ownership was around $50/month. Pretty much equated to free living for 4 years.

>tfw it's 2006
>tfw 745 credit score
>tfw 95000 income
>tfw self-employed
>tfw no proof of income
>tfw 0 saved up

>check mortgage prequlaification
Congratulations, you’re Pre-Qualified for a 30 Year Fixed Rate Mortgage

Here are the details:
Loan Amount:
Up to $1,750,000

Typically how much more expensive is owning a home rather than renting one per month?