too young for mortgage?

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Hi, I am 21 years old and am hoping to purchase my first duplex with an FHA within the next year. I am wondering if this is realistic? Will I get approved for a mortgage? I will have about 15-20k cash for a down payment. I have multiple credit cards and a total credit limit around 10k. My credit score is good, but not excellent. I have been employed since the age of 15. I have never taken out a loan. I thought of something, let me know if this would help or if it is not a good idea- my parents pay my school tuition so I was thinking what if I take out a student loan under my name for my last year of college and ask my parents to pay it off completely at the end of the year? Would this help me when I apply for a mortgage or is there no point in doing this?

You should be able to get approved for a mortgage.  The key factor is debt to income ratio.  Your annual income will have a huge effect on much a lender will lend. The credit cards should help.  I was in a similar situation as you when I purchase my current residence because I did not have much debt to my name, I paid for school and car with cash.  I had two credit cards when I first applied and ended up opening an additional credit card to help   with lending.  Go speak to a few lenders they should spell it out for you.  I can recommend a great NJ lender if you need one one.  Private message me for info.

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