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Updated almost 2 years ago on . Most recent reply

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Nessa Lyn
  • Investor
  • Albany, OR
4
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22
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Son not approved for enough

Nessa Lyn
  • Investor
  • Albany, OR
Posted

My son who turned 18 in Jan, has been working for the school district and was approved for a conventional loan. The only issue is he's only approved for $180k. There is nothing habitable in or around Albany Oregon for that. Is there another route he could try? His goal is to get his first house before he is 19. He's been saving 90% of his checks each month. Any ideas or other strategies he can try?

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Theresa Harris
#2 Starting Out Contributor
11,365
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Theresa Harris
#2 Starting Out Contributor
Replied

What are your finances like?  You could co-sign a loan and go on title.  Look for a duplex or place with a suite.  You get half and deal with those tenants and he takes care of his place.

  • Theresa Harris
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