130,000 home loan? how long untill i can take approved?
i currently have 2 credit cards (used occasionly) and 1 car return and a cellphone bill they are always payed on time.! im currently 18 how long untill i can carry a home loan/? how long will it take to build my credit?
Answers:
Congratulations on doing so well at age 18, heaps don't start building credit until 20 or later. You've well ahead of the spectator sport. Having said that, the most important consideration when banks lend is income. Most inhabitants think it's credit, but that isn't. So the question is whether you own income. If you are working, then you could possibly qualify (depending on how much you make and support out your monthly expenses). If you're in school, your probability of a loan are slim. But that's ok, you're going to be fine given your head start.
It isn't only your credit history; its also your income and down costs that matter.
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Answers:
Congratulations on doing so well at age 18, heaps don't start building credit until 20 or later. You've well ahead of the spectator sport. Having said that, the most important consideration when banks lend is income. Most inhabitants think it's credit, but that isn't. So the question is whether you own income. If you are working, then you could possibly qualify (depending on how much you make and support out your monthly expenses). If you're in school, your probability of a loan are slim. But that's ok, you're going to be fine given your head start.
It isn't only your credit history; its also your income and down costs that matter.
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