Will my mortgage prevent me from buying a condo later?

I'm buying a townhouse with my elderly dad, we'll both be there as "joint tenants of survival", which means that whoever does not die first is the owner of the house. I have the choice whether I want to be on the mortgage or not.

My question is: if I take out a mortgage, will it interfere with my ability to get a quality loan in 4 years when I buy my own condo? I'm going to have 40k on the condo, but I still have half. I'm afraid they're not allowing me to get the loan for this mortgage if I'm already on the first mortgage with my dad at the townhouse.

My father said that it was not true, that I could use the subdivision as collateral to get the mortgage for the condo. Is it true?


[ Renting & Real Estate ] Open question: Should we refinance or not?

We bought our main house in 2014, the price of the house rising to 116,000, the value of the house being at 190000. When we bought the house, my husband's credit score was 640.
Now his credit score has been increased to 800.
And APR was 4.25.
Our remaining mortgage is 99000.
What would you refinance or not?
Only my husband works, we have no extra money to spend. .

Is 58K at age 28 the right amount saved at this point?

There is no "fair" amount. Everyone should try to save some of their income. The amount that a person saves and the speed with which he accumulates an amount depends on his income, his expenses and his goals. If you can save $ 10,000 a year, congratulations! If you can save $ 40,000 in one year, double applause.

$ 58K is a good bet for a 28 year old, but it will not even be a down payment on a condo in Queens if you decide to stay in the New York area and want to buy a house. On the other hand, if you keep $ 50,000 in a 2.5% account, it will bring you about $ 175,000 when you retire. If you manage to add $ 10,000 to the original $ 50,000 each year, you would have more than $ 1 million in 50 years.


Current tips for single, first buyer?

I'm trying to do research on the Los Angeles domestic market because I'm thinking of moving there in about a year and a half. I am currently outside Sacramento, California, where I am doing my master's degree in finance.

I am looking for work in the area and some parties are interested in taking me out after graduating at $ 86,000 a year. I have a $ 698 credit rating and a saving of about $ 55,000 by living well below my current means. I think I can save more than $ 10,000 by 2020.

This whole process seems overwhelming, I'm 28 years old, I've never rented it before, and every website I'm going on explains the household income when two or more married adults work. I've plugged my current salary of $ 86,000 a year, as well as my savings, into a real estate loan calculator, which brings me about $ 260,000 in housing expenses. I currently have about $ 1250 a month in vehicle, student and credit debts. The only thing I can do is to attack part of my student credit to get less than $ 660 a month, but that would mean delaying the possession of my home, which I do not want to do, I already feel late compared to my peers. I would like to start building equity.

Thus, all your resources, your personal experience in the market or simply your unique buying experience with a single source of income in markets where the cost of living is higher than the national average would be more than welcome. I can not find a lot of resources, easily, on the income alone, single men buy a house.


Is there a bank or union that could get me a loan of 5 to 10k with a poor credit rating and no job as no proof of income?

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