I'm a student who would rather move into a home than an apartment, with good credit is it possible to get a home loan at 20 y/o? are there age limits?

Asked by Aja Noel, Grand Rapids, MI Sun Jun 30, 2013

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Michael Basi…, Agent, Scottsdale, AZ
Mon Jul 1, 2013
Hi it sounds like you are well on your way, but one thing you do usually need is 2 years of steady income. Age is not an issue (as long as you are over 18 and your credit is good).

If proof of income is an issue there are other option for you to own a home through seller financing, but you will pay a premium for that due to risk.
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Joshua Nawrot, Mortgage Broker Or Lender, Byron Center, MI
Mon Jul 1, 2013
Good Morning!

I have seen people as young as 19 getting home loans. A 2 year solid work history is needed, and 6-12 months of established credit is also important. 2 months ago we closed a 20 year old who purchased his very first home by himself. His monthly mortgage payment was $150 less than all of the apartments he was looking at out there. I would love to help you out. We are a local mortgage company that has been in Grandville for over 16 years. Have a great day!

Joshua Nawrot
Vice President of Lending
Northern Mortgage
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Barbara Viss…, Agent, Grand Rapids, MI
Mon Jul 1, 2013
In addition to the other comments, may I suggest buying a manufactured home. This is a viable alternative, less costly, less down payment required,and easier to sell when you are done with school.
We have several listings which may be of interest to you.

Looking forward to discussing this with you,

Barbara Vissers
First Choice
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Tony Grech, Mortgage Broker Or Lender, Southfield, MI
Mon Jul 1, 2013
Hi Aja
The three things lenders look at when approving a loan are income credit and down payment. Age won't matter, and of you have satisfactory credit you can have a parent or relative act as a non occupying co borrower so you can use their income to qualify. Feel free to email me to discuss things in more detail

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Thomas Girar…, Mortgage Broker Or Lender, Grand Rapids, MI
Sun Jun 30, 2013

Yes it is possible to get a loan. There is certain criteria that must be established in order to get a loan. There is a program that will allow you to have a non occupying co borrower to get financing for a home. The best approach is to give me a call and we can go over your options. The best number to contact is (616) 318-0385. Have a great night!!!


Tom Girardot
Team Mortgage Company
(616) 318 - 0385
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Larry Heffel…, Agent, Ionia, MI
Sun Jun 30, 2013
Yes you should be able to obtain a mortgage. Give me call and I can direct you to a lender 616 835 1347.
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Maria Cipoll…, Agent, Coral Springs, FL
Sun Jun 30, 2013
The key is to have a good credit, money for down payment and closing costs. Shop around for a mortgage broker that can explore all your financial documents and advice you properly.
Mortgage broker have access to many banks, private lenders and many different programs.

Best of Luck,

Maria Cipollone

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Brian Lorenz, Agent, BYRON CENTER, MI
Sun Jun 30, 2013
Hi Aja,
There are no age limits b/c that would be discriminatory. It may be possible but you'll need to talk with a lender to find out. Call Dan G at Mortgage One: 915-1734.
Getting prequalified is the first step. Then choose a buyer's agent to represent you and to guide you through the complex process. Feel free to call me for more answers.
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