Posted on: 27th Sep, 2009 11:41 pm
I am 19 years old, wondering if i can get a loan for a house. I am financially stable and can pay 30% down payment
Getting a mortgage will also depend upon your credit score. What type of a credit score do you have? Just remember that you would require a credit score of around 740 to qualify for a conventional mortgage whereas for a FHA loan, you would require a credit score of 620. Apart from this, the lender will also check out your employment history for the last 2 years.
legal age is 18, so a 19-year-old is certainly eligible. as pointed out by niiccs, your credit score, income, debts are all important aspects of the qualifying process. if you meet the required guidelines, then you'll stand a good chance of obtaining a mortgage.
it depends upon your credit score if it is 620 or mre then you can apply for loan.
I'd think that if you can demonstrate a stable work history and you aren't looking to borrow an unrealistic amount, amany lenders will be happy to lend to you