I 23y.o. and my wife to be is 22 As the years go by, becomes ever more important to buy a house and have an investment instead of money to throw into the flat. Well, I have never been on the continuing credit and save for a deposit when I was younger spoken. It took about a year I have learned what it means to buy a house there. Together, we have no money for a down payment and our credit is not the greatest. Is it possible for us to never own a home in the near future? We have the finances to pay a mortgage, to see that we are, but the supervisors to it a call center and me in a government building. I am well aware of the responsibility of owning a home, I just want to get to this point.

Why are your bad credit?
The first thing you want to do is, you get a copy of your credit report and see how bad it is. See if there are things that need to be addressed are. After receiving your credit card at the height (base score FHA they use is usually 620), then you need to start saving for a down payment. 3.5%, because the FHA requires. You also need a further 3% for closing costs. The higher your down payment, the better, if you save 20% of the purchase price of the house, you can avoid PMI.

You can buy a house, only to your credit card / cash / get income to a level where it to the lender, can you afford to be proved. I would say it may take several years to get there.

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