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Yes, possibly. You can buy a house for cash from savings or investment with no income at all, and then keep it as long as you can make the tax payments and other assessments.
If your lack of income is "probably temporary" (like you're in prison for a short period, or "between jobs", or "in graduate school"), you may still qualify for a loan.
If you cannot afford to pay the interest on a loan to purchase a house, then it is a really bad idea to consider buying a house. You will fail to make the payments and it will be taken away.
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∙ 16y ago
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How much can you borrow to buy a house?
Based on income & how many borrowers. You should qualify before starting shopping.
How do you qualify to buy a house?
Have a clean credit record.
How much income do you need to buy a house?
It depends on your recurring monthly debt (minimum monthly payments). This number divided by your gross monthly income give you your debt-to-income ratio. This ratio can be no higher that 57 (but in most instances 45) with the proposed new mortgage payment in order to qualify.
How can you buy a house if you work as a waiter in a restaurant less than one year and don't have good credit in South Carolina?
The bottom line is that you need to contact a mortgage broker to find out the answer to your question. Whether or not you qualify for a mortage to help you buy a house depends on a lot of factors. The amount of the loan and the interest rate will determine what your monthly paynents will be. The higher the downpayment, the lower your payments will be. If you don't have enough income to make the payment or have a history of not paying your debts, then you are less likely to qualify.
What kind of financial certifications do I need to buy a house ?
You do not need any special financial certifications to just buy a house. A good credit score will help though as it will help you qualify for a lower interest rate.
How much can you borrow to buy a house?
Based on income & how many borrowers. You should qualify before starting shopping.
How do you qualify to buy a house?
Have a clean credit record.
How much income do you need to buy a house?
It depends on your recurring monthly debt (minimum monthly payments). This number divided by your gross monthly income give you your debt-to-income ratio. This ratio can be no higher that 57 (but in most instances 45) with the proposed new mortgage payment in order to qualify.
is it true that I could get a grant tobuy a house and pay my bills.?
How can i get assistance You can get a tax rebate if you buy your first home this year. You do not get grants to pay your bills, but contact an accountant to find out if you qualify for the Earned Income Credit.
Who helpes you buy a house?
A Realtor
How can you buy a house if you work as a waiter in a restaurant less than one year and don't have good credit in South Carolina?
The bottom line is that you need to contact a mortgage broker to find out the answer to your question. Whether or not you qualify for a mortage to help you buy a house depends on a lot of factors. The amount of the loan and the interest rate will determine what your monthly paynents will be. The higher the downpayment, the lower your payments will be. If you don't have enough income to make the payment or have a history of not paying your debts, then you are less likely to qualify.
What kind of financial certifications do I need to buy a house ?
You do not need any special financial certifications to just buy a house. A good credit score will help though as it will help you qualify for a lower interest rate.
Do income tax have to be paid to buy a house?
No but if you owe income tax and the income tax people claim that you owe them money they are in a position to sell the house you bought from under you to pay for the income tax you did not pay. other then that there are any number of charges levies and taxes associated with the purchase of a house. House buying is a real cash-cow for the government and the legal professionals.
If one spouse recently had a Chapter 7 bankruptcy discharged and the other has a credit score of almost 750 will the couple be able to buy a house?
You can buy anything you want. Getting someone to give you a loan is another story. If your expecting to use the BK persons income to qualify, or have him on the title...it's going to be very, very difficult.
Can your file for bankruptcy and still buy a house?
i am not 100% about being able to buy a house, but you CAN keep your house if you already own 1,but you do have to pay any equity in the house to your liquidator.
Do real estate investment trusts qualify for 1031 exchanges?
The trust can qualify if it sells a property and wants to buy another. The individuals who own shares in the REIT cannot use section 1031 to defer the taxes on their income or other gains from the trust.
Can i buy a house if i have associate's degree?
Your education doesn't determine home ownership. Your income is the primary factor.
