Monday, May 9, 2016

What's needed to qualify for a mortgage?


So I just turned 19 years old. I have about 25k saved up and want to buy this house. I live in Portland Oregon, and this property has 2 houses on it. It's a heck of a deal. I want to buy it and rent them both out. It needs a little work, but it has a kitchen and bathroom that is "live able" so it qualifies for a loan. The house is listed for 166k. I have a credit score of 720, and I've been working about 35 hours a week at papa Murphies for 2 years now. Is it a long shot or could I get a mortgage on this house?

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