All Forum Posts by: Keaton Walkowiak
Keaton Walkowiak has started 3 posts and replied 12 times.
Post: Being approved for a loan
- New to Real Estate
- Minnesota
- Posts 12
- Votes 8
Quote from @Cody Hunter:
@Keaton Walkowiak You can become an authorized user on your parents card under 18. From 18-21 you must provide proof that you have enough independent income. Another option after 18 is starting with a secured credit card. Do you have a down payment or finances to purchase your first home?
Cody thank you! Yes I do have enough for a down payment, but I am still working to build more money so I can continue on.
Post: Being approved for a loan
- New to Real Estate
- Minnesota
- Posts 12
- Votes 8
Hi! I am a 17 year old named Keaton and I have been learning about the real estate world for almost a year now, and I am nearing the stages of buying my first multifamily home. I am looking to buy a rental once I am 18.
I have been asking around from bankers, agents, to my parents about how to get approved for a loan assuming I wait till I am 18 to buy. I have understood that I need a good credit score, and 2 years of w-2 paychecks to prove I'm making income. I do not have a credit card yet and I am looking for answers to a few questions...
As a 17 year old am I able to start building credit? If so, how?
I have been told that I can have my name put on my parents card as an authorized user and then that would start building me credit, is this true?
Any insight is appreciated immensely!
Thank you for your time,
Keaton Walkowiak