Now is a great time to buy. Low interest rates and low housing prices make it a no brainer. Unfortunately, if you do not have guaranteed income you will not qualify for a mortgage. I would suggest getting a family member to cosign on the loan with you. Of course, that family member would have to be able to qualify for the loan and be able to repay in the event you did not pay. I would like to talk to you directly about these options and find out more about your particular situation. I would also like to give you some names of local mortgage reps in Bellingham to see what options they have for getting you approved for loan. Contact me at your earliest convenience.
Sterling Real Estate Group
Congratulations on continuing your education and choosing to be smart about how you handle your housing. Unfortunately, conventional financing arrangements will require an ongoing and continuous source of income that could handle the mortgage without relying on renting out rooms. If you already have work lined up and itâ€™s with the same company you are with currently or in the same field and for enough to meet the lenders debt to income guidelines, you possibly could buy something in your name.
Where you currently donâ€™t have figures available, I think that this would be a difficult arrangement. One option could be to have a family member or someone else you trust who could qualify purchase a residence and arrange a partnership with them for you to manage the tenants in exchange for reduced rent or partial ownership or gain. If you know someone open to this type of arrangement, work out the details with an attorney up front to avoid any uncomfortable surprises later.