WE got an offer on our spec house for sale. It is a young couple and they really want the house. It would be their first home.
They were turned down by the bank. They only have 5% to put down and their payment would be about $1300 a month. She makes good money, but he is self employed and cannot prove his income. I don't have any idea what their credit score is like.
I bought my first home at age 21. My monthly payment was $96.00
I might mention that I made $1 an hour and my husband made $1.25 back then. The house was new and cost $12,000. Because of that house, I became mortgage free at age 32 and have never had a mortgage payment since then.
The bank also wants about $7000 in closing costs. I have no idea what that is for, but we were going to pay the closing costs for them. I feel bad for them; they were so excited.
Young couples have it tough
June 12th, 2015 at 08:50 pm
June 13th, 2015 at 01:05 am 1434157549
June 14th, 2015 at 11:06 pm 1434323182